Tesla lowers the cost of its Model 3

Vanessa Conneely - 6th February 2019

The move is aimed at making the car more affordable.

Tesla says it’s lowering the cost of one of its electric cars by more than a $1,000 – putting the current price tag at $42,900.

The decision, which was made by CEO Elon Musk, is part of his plan to eventually get the price of the Model 3 down to $35,000.

The move comes a year and a half after the electric car was launched and is an attempt to make it more affordable.

Mr Musk managed to shave $1,100 off the cost by getting rid of the company referral program – which awarded customers prices when they brought new clients to Tesla.

The car manufacturer aims to produce 7,000 Model 3s a week, which include features such as a glass roof, vegan leather seats and a premium sound system.

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Tesla lowers the cost of its Model 3