Axelle/Bauer-Griffin/FilmMagic/Getty Images(FREMONT, Calif.) — Tesla has rolled out its cheapest electric car to date.
The company’s first mass-market vehicle, the new Model 3, starts at $35,000. Tesla CEO Elon Musk said it is the “best car for its cost, either electric or gasoline.
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The price is still higher than that of rivals Nissan Leaf, which starts at $30,680, and the hybrid Chevrolet Volt, which goes for $34,095, according to the BBC.
Past Tesla models — the “S” and “X” — had a starting price of $80,000.
The company aims to produce 5,000 units of the Model 3 every week in 2017, and 10,000 a week by 2018.
More than half a million customers have already placed $1,000 refundable deposits for the car, which is eligible for tax credits.
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