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Tesla Model 3 to Arrive in Two Flavors

Tesla Model 3 to Arrive in Two Flavors

Electric-car maker Tesla unveiled the first of its Model 3 saloons on Friday as the company drew closer to introducing the vehicle - which is priced for mainstream consumers - to the U.S. market.

The company disclosed that the Model 3 comes with a standard battery that provides 220 miles of driving range on a single charge. The vehicle has a range of 220 miles to 310 miles and has been created to "have the highest safety ratings in every category", the company said. Drivers in the United Kingdom may face a long wait, said a Tesla spokesperson, as a right-hand drive version of the Model 3 has not yet been finalised. "A troubled Model 3 launch could heighten the risks for the company, while a steady delivery of Model 3s could generate a stream of cash that would allow Tesla to avoid going again to the capital markets to fund its operations". Sure, the already available Model S and Model X with their steep price tags don't quite back Musk's words, but the truth is that the company had been relentlessly working to develop an affordable mass-market vehicle for the past few years.

"It was never our goal to make expensive cars".

The jubilant event on Friday night marked the culmination of a long journey to deliver an affordable electric auto, reports CNN.

One of the events that stunned the people all across the globe was the launch event of new Tesla 3 vehicle. No, the Model 3 doesn't require any kind of "key" or physical object other than your smartphone.

"We're going to go through at least six months of manufacturing hell", Musk told reporters Friday at Tesla's Fremont factory. You can add enhanced Autopilot and full self-driving capabilities for an additional $8,000. The Long Range version hits 60 miles per hour in 5.1 seconds and tops out at 140 miles per hour.

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Base Model 3 cars will have a 0-to-60-mph acceleration time of 5.6 seconds, the company said, and a top speed of 130 miles per hour.

The highly anticipated Model 3, the vehicle Tesla hopes will boost its production to hundreds of thousands of electric cars a year, will initially come in two versions.

PRICE: The starting price of the Model 3 is $35,000.

Were Tesla to produce and sell 500,000 cars per year, the company would likely outsell the BMW, Mercedes, or Lexus brands in the United States. Buyers can get the vehicle in black at no additional cost, however they'll need to spend an extra $1,000 for colors like Deep Blue, Pearl While, Silver Metallic, and Red. But that may be easier said than done because about half a million cars have been reserved.

Potential customers could lose faith if Tesla doesn't meet its aggressive production schedule, or if the cars have quality problems that strain Tesla's small service network. In 2006 - three years after the company was founded - CEO Elon Musk said Tesla would eventually build "affordably priced family cars" after establishing itself with high-end vehicles like the Model S, which starts at $69,500.