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Finally, Elon Musk has announced that the Tesla Model 3’s base price will meet the $35,000 target he set for the company’s cheaper EV offering – days after Polestar launched its rival EV. 

Since the Model 3’s launch in the US, Tesla has come under criticism for lying to its investors and customers, although it has been releasing cheaper versions since the beginning of last year.

Now achieving the mass market price that it has been promising, Tesla released details of an email to its retail stores yesterday, breaking the news of the cheaper offerings available to order in the US next month.

In addition, Tesla also announced that it would move all sales online, closing most of its stores. This disruptive decision, put in place to further cut costs, may destroy the traditional dealership model automakers have been following since the start. However, this will be a huge challenge for Musk and his team.

Customers can now order a $35,000 Model 3 with a standard interior and battery pack, achieving 130mph top speed and a 0-60 time of 5.6 seconds. Those who originally put down deposits for the base version will still have priority.

The base model will be launched in Europe and China within the next 3 to 6 months.

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