Tesla’s Low Cost Model 3 Under Investigation – Still Worth It?

Tesla, the famous electric car pioneers known for innovative engineering and creative designs, released a new vehicle called the Model 3. This new vehicle is a concept for the everyman that has folks debating whether or not they should invest.

While Musk’s work is generally associated with a certain upper echelon of society, the Model 3 has been created as a more affordable option for families or singles looking into economical but sleek transportation.

The midrange battery Model 3 has pretty impressive specs, which aggravates customers waiting for the standard model. Customers who are interested in purchasing a Tesla Model 3 are able to order 3 different types of batteries options online, but none of those options come with the standard battery package.   

The mid range battery can achieve an estimated 418km in range, 201km/h for top speed, and 0 to 100km/h in 5.9 seconds, whereas the elite performance battery can travel 499km, reach a 250km/h top speed, and accelerates from 0 to 100km/h in 3.5 seconds, which is faster than a lot of high-performance mid-size sedans.

However, the question of whether or not it will be truly affordable once released still has people raising an eyebrow. People are now starting to realize that the Model 3 might not be in their price range, after all.

It now depends largely on the luxury level and type of battery your request. The car was announced over two years ago, with Musk himself stating, “You will not be able to buy a better car for $35,000, or even close, even if you get no options.”

After hearing this wildly bold announcement, 400,000 people scrambled to put down a $1,000.00 deposit to have their very own Model 3.

Tesla has delivered roughly 30,000 Model 3’s but almost 400,000 have yet to be delivered. If you were to order a Model 3 on Tesla’s website as of today in Canada, you will notice that it states “standard battery available in 4-6 months”.

This standard battery is the affordable option that will be sold for $45,600.00 CAD, while a midrange battery with rear wheel drive option costs a heftier $53,400.00 CAD. This model was launched with no announcement but completely changed the pricing structure.

As a result, on October 26th, the Tesla Model 3 Performance sedan for a $5,000.00 price slash. However, it is being investigated by the DOJ for misstating production information, and misleading comments to investors last year regarding manufacturing goals.

Many argue that the company has achieved many goals in the past that the masses never thought possible, but this new information might give you trust issues and put a pause on this investment. Do you still think it’s worth the wait, or just a risky move?

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