AN ICONIC electric car brand has slashed the price of its one of its top motors.
Tesla, owned by billionaire Elon Musk, has cut the cost of its basic Model 3 Standard, which starts at less than £30,000 as the company attempts to bring in new business.
Elon Musk’s involvement in American politics was said to have played a factor in putting off customers[/caption]
The electric vehicle makers rolled out the motor as a cost efficient alternative to its slightly pricier alternatives in hopes of boosting sales after loosing ground to rivals.
According to the car company, the lower-priced EV can do 321 miles on a single charge, can go from 0-60mph in 5.8 seconds, and comes with a top speed of 125mph.
But in order to cut down the price, the Standard version of the motor has cut certain design aspects seen in the Model 3 Premium.
The Model 3 Standard does not feature faux leather seats, and instead includes a part-cloth interior. It does not feature ambient lighting.
The car’s centre console size has also been reduced in order to make way for an open storage area.
Model 3 Standard also doesn’t have a traditional car key – instead the car is powered by smartphone app and key card.
The motor also doesn’t have a subwoofer – it still keeps the customary seven-speaker sound system. It also does not feature radio FM and AM functions.
The cut-price motor comes as Tesla suffered a 40 per cent drop in sales globally.
The company’s boss Elon Musk‘s involvement in American politics, along with strong competition from Chinese rivals have been said to be among reasons for the slump.
Despite Musk’s announcement of cheaper Tesla models, the company’s shares dropped by 4 per cent yesterday.
And critics also blasted the price point of the affordable car compared to its superior.
The Model 3 Standard is priced at roughly £27,000, just a few thousand below the cost of the range‘s more premium options.
On X, one user wrote: “These price points just aren’t it, you’d be better off buying a second hand Tesla at this rate.”
It is not yet known if Tesla plan to roll out the Model 3 Standard in the UK, as the motor does not yet appear on its website.
