Tesla CEO Elon Musk has revealed the sale of a new, cheaper 3-model, but its price is higher than the much anticipated $ 35,000 model before tax relief.

In the past, Musk had stated that the base price of a less expensive model 3 would be $ 35,000 before the $ 7,500 federal tax credit. The battery of this electric vehicle would offer an expected range of 220 miles.

But this new model has a mid-range battery that allows the car to travel about 260 miles with a battery charge, according to the Tesla website. There, the base price of model 3 is indicated at $ 45,000. Taking into account the tax reduction and gasoline savings of $ 4,300, the price of the car drops to $ 34,400 with destination and documentation fees.

The new 3 "low-cost, mid-range model," said Musk on Twitter, "costs $ 35,000 after tax cuts from state and federal authorities in California, but the real cost of ownership is closer to $ 31,000 after fuel savings. "

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New vehicles equipped with midrange batteries are expected to be delivered in six to ten weeks, according to the Tesla website.

Tesla Model S and X vehicles, which can cost more than $ 100,000, have become status symbols. But the current model 3, which typically costs about $ 55,000, put the automaker in Palo Alto, Calif., On the radar of average car buyers.

His decision to make model 3 available at a reduced price comes as Tesla refined his production line. In the third quarter, Tesla reported delivering 83,500 vehicles, more than 80 percent of the vehicles delivered by the company in 2017.

Its quarterly production of 80,142 vehicles over the three-month period was twice as high as its previous peak from April to June.

"While Model 3 production and sales continue to grow rapidly, we have achieved a stable volume of production capacity, which has allowed us to diversify our product offering to even more customers," Tesla said in a statement. release addressed to the United States today The Range Battery range is introduced this week in the US and Canada to better meet the varied needs of many customers who wish to own Model 3, our delivery estimate for customers with ordered the standard battery is 4 to 6 months. "

Tesla's ability to offer more fuel-efficient vehicles will likely increase its competitive position among other mid-size premium sedan manufacturers. Tesla said its model 3 in July was superior to all other competitors (Mercedes-Benz, BMW, Audi, Jaguar and Lexus) meeting in the United States, capturing 52% of the mid-size luxury sedan segment.

In the US, between July and September, the Silicon Valley industrialist outperformed Mercedes-Benz sales and could surpass BMW's in the current quarter, according to a report by Atherton Research published in Forbes.

Tesla and Musk would like to focus on the sector after a few tumultuous weeks. Musk recently agreed in an agreement with the Securities and Exchange Commission to vacate his position as president of the company for three years and pay $ 20 million for making a "false and misleading" statement when he tweeted that Tesla had enough funding to go private.

Musk, who remains CEO, has also caused a stir by smoking what his host, Joe Rogan, has described as marijuana inside tobacco, a live video podcast interview.

Follow the USA TODAY reporter, Mike Snider, on Twitter: @ MikeSnider.

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