Tesla's new model is (slightly) more affordable

American electric car manufacturer Tesla has unveiled its Model 3, a new type that should appeal to a larger and wider crowd. With a 30,000 euro price tag, the Model 3 is clearly cheaper than Tesla’s other cars.

500,000 cars per year

Tesla also says the Model 3 is the safest car around, with a 5 star crash test rating. On top of that, every Model 3 will have Autopilot, which means it can navigate traffic all by itself.

The company aims to build about 500,000 Model 3 cars every year, ramping up production to that number relatively fast after its launch. The very first buyers will get their car at the end of next year. During the Model 3 reveal press conference, about 115,000 orders were placed.

Model 3’s basic design will cost 35,000 dollars (30,000 euro), containing many features found in the more expensive models that have already launched. Tesla understands there will be an increased need for charging stations, meaning the Supercharger charging station network will increase from 3,600 now to 7,200 by the end of 2017, when the first Model 3 cars arrive. It will also continuously add Destination Chargers, up from 3,600 now to 15,000 by the time Model 3 cars are available. Similarly, its store network will also expand, from 215 stores to 441 by the end of next year.