Much like the summer's temperatures, electric vehicles are hot right now. EV sales rose by 20% in 2023 compared to the previous year, thanks to decreasing costs and increased choice among automotive manufacturers.
Tesla, a key player in the EV space, continues its goal to electrify the transportation industry by relaunching the Model 3 Long Range Rear-Wheel-Drive as the second-cheapest option for the well-received sedan.
As explained by Electrek, the company stopped selling some versions of the Model 3 while reviving a popular one with the capacity to travel up to 363 miles (EPA estimation) on a single charge. The company has advertised the long-range model at $29,990, but Electrek noted the starting price is $42,490 on its website.
However, it is eligible for a federal tax credit of $7,500 to reduce the purchase price, and in the long term, customers will save plenty of money by refueling with cleaner, cheaper electricity rather than expensive and polluting gas.
With the EV relaunch, about 100 miles more range has been added to the newest version on a full charge, while nearly a second has been shaved from the zero to 60 miles per hour acceleration time.
This is not the first time Tesla has sought to cut the cost of its EVs. Just last year, Tesla announced that the Model 3 returned with an 18.5% price reduction compared to its listing of $57,990 in 2022.
The move by Tesla only improves the value EVs bring to consumers, who can save $1,500 a year on gas and maintenance.
It's not just Tesla bringing high-performance EVs. The Hyundai Ioniq 6 and the Lucid Air have both achieved at least 140 miles per gallon equivalent, far surpassing the highest-rated fuel economy for gasoline vehicles, which is typically between 60 to 70 miles per gallon.
EVs are not only cost-effective to run but also release significantly less air pollution, helping to reduce the heat-trapping gases that are overheating our planet.
As EVs grew to 8.5% of new auto registrations across the United States in 2023, the transition to a responsible means of transportation doesn't appear to be slowing down, per The New York Times. Tesla has demonstrated the part it will play in the year ahead.
"This is a great deal," commented one reader on the relaunch.
"They've really made some nice refinements," wrote another.
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