The Elon Musk-owned Tesla electric car has finally announced an all-new entry-level Model 3. The Model 3 has finally landed following months delays due to production issues. The Tesla Model 3 arrives after a tricky twelve months for the US-based electric car company.
The entry level Model 3 is expected to be able to sprint from 0-60mph in 5.6 seconds.
The Tesla Model 3 is also set to have a range of around 220 miles on a single charge.
The Tesla Model 3 has the same minimality interior with the huge 15-inch landscape infotainment screen being the main feature on the dashboard.
Performance variants of the Tesla Model 3 can go from 0-60mph in around 3.5 seconds and the long range models have up to 335-miles of range on a charge.
Elon Musk blamed “production bottlenecks which plagued the first few months of orders of the Tesla Model 3.
But the Tesla has since significantly managed to increase production, delivering hundreds of thousands of cars in the past few months.
Just last week pictures were shared online of hundreds of Model 3s shipping worldwide, marking another milestone for the carmaker.
This follows the release of the Polestar 2 this week which is slated to be a direct rival to the Model 3.
Tesla head Elon Musk confirmed that an exciting new announcement would arrive today, Thursday, February 28, at 10.00pm GMT (2.00pm PT (5.00pm ET).
Elon Musk, also head of SpaceX, also caused a stir when he yesterday posted another cryptic message about the impending news.
Musk made a couple of changes to his Twitter bio, which could be clues about the announcement.
And Tesla’s stock reacted to the announcement immediately with a five precent jump.
Musk is in trouble with the Securities and Exchange Commission (SEC) about his tweeting habits.
Regulators on Monday had asked a federal judge to hold Musk in contempt for violating a settlement deal reached last year that involved criticism of Musk’s Twitter use.
Musk and Tesla settled their dispute with the SEC in October.
They agreed to pay $40million in fines and to start policing Musk’s social media posts after he caused a stock surge with a tweet that regulators said over-hyped Tesla’s value.