Tesla, one of the leading manufacturers of electric vehicles (EVs), has reopened orders for the long-range Model 3 in the US after suspending them last August. The company has also reduced the price of the long-range Model 3 by almost $11,000, bringing the starting price down to $47,240. This reduction is a significant step towards Tesla’s goal of making EVs more affordable and competitive in the automobile market.

Reason for the Hold on Sales

Tesla stopped taking orders for the long-range Model 3 due to its growing waiting list, caused by production challenges. Although the EV giant had previously faced issues with production, it was believed that the problems had been resolved before the pandemic. Elon Musk, the CEO of Tesla, had stated that the company would resume taking orders when production capacity had increased.

Changes to the Range and Specs

Apart from the reduction in price, Tesla has also made a few changes to the range and specifications of the long-range Model 3. The vehicle now has a range of 325+ miles, a decrease from the previously advertised 358 miles on a single charge. However, this is not a significant issue, considering the reduction in price.

Moreover, Tesla redesigned its existing models in November 2020, which resulted in time and cost savings in production. The long-range Tesla Model 3 is now listed as having a range of 325+ miles, down from 358 miles previously. Additionally, the Performance RWD Model 3 has an acceleration of 3.1 seconds, while the Long Range AWD Model 3 takes 5.8 seconds. The infotainment system has a 15-inch display, and the vehicle’s weight is 1,836 kg for Performance RWD and 1,751 kg for Long Range AWD.

Impact on the Market

Tesla’s move to reduce the price of the long-range Model 3 is expected to create fierce competition in the automobile industry’s EV market. The reduction in price will make it more affordable for people to purchase Tesla EVs, which will ultimately boost the company’s sales. Additionally, the reopening of long-range Model 3 orders is a sign that Tesla is making significant strides in resolving its production challenges. This could attract more investors to Tesla, and other EV manufacturers may also take steps to make their EVs more affordable and competitive in the market.

Overall, the reopening of the long-range Model 3 orders is good news for the EV industry as it signals the progress in EV technology and the development of more affordable EVs.