We’re still waiting for the $35,000 Tesla Model 3, but Tesla just announced the availability of the cheapest Model 3 yet. Tesla has announced the release of a $45,000 Model 3, which arrives with a 260-mile driving range.

Tesla Model 3 Red

Tesla has already started taking orders for the $45,000 Model 3, which is about $4,000 cheaper than the first version of the Model 3 that arrived last year. After the available tax incentives, the 260-mile range Model 3 does end up in the $30k range, but the tax incentives are about to run out.

Tesla buyers will no longer be able to get the full $7,500 federal tax credit after December 31. In the first half of 2019 the federal tax credit will be cut in half and then it gets halved again for the remaining six months of 2019.

Source: Tesla