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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.”
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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