EV giant Tesla Inc (NASDAQ:TSLA) has restarted taking orders for its Model 3 Long Range in the U.S. after an eight-month-long pause.
What Happened: The Tesla Model 3 Long Range is now available to order on Tesla’s website for $47,240, with deliveries estimated in June.
The vehicle previously cost $57,990, according to Electrek, indicating an 18.5% cut in price.
Longer Wait Time: The Long Range has a longer wait time than the Model 3 Rear-Wheel drive and Performance versions, both of which will be delivered in May itself as per the website.
The Long Range is only eligible for a $3,750 tax credit like the rear-wheel drive, possibly because the batteries are not manufactured in the U.S. The Model 3 Performance, however, is eligible for a $7,500 tax credit.
See Also: Everything You Need To Know About Tesla Stock
Why It Matters: Tesla stopped taking Model 3 Long Range orders in August. The website then showed that the car would be available in 2023.
Musk had pegged the reason for the pause to a long waitlist. “Will enable again as we ramp production,” he had said.
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