A Tesla For The Rest Of Us? Cheaper Model 3 Planned

Tesla Motors has shown it can take on established premium-luxury brands with its Model S sedan, but the real test will come when it launches an all-new mainstream electric vehicle at roughly half the price. CEO and founder Elon Musk has long made clear his plans to go down-market, and the new Model 3 sedan, confirmed this week, is expected to come in somewhere around $35,000 — or between one-half and one-third of the price of the bigger Model S, depending on equipment and range.

Related Videos


  • Tesla's Elon Musk Expects NHTSA to Clear Model S In Fires

    It's been a bumpy few months for electric car maker, Tesla Motors. While enjoying the highs of high customer satisfaction and continued praise for the Model S electric sedan, the company has also endured high scrutiny for a trio of accident-related fires in its vehicles. CEO Elon Musk doesn't seem worried, though, despite an National Highway Traffic Safety Administration investigation into the fires.

  • According to Elon Musk, Tesla Model 3 Will Cost $35,000: Would You Buy One?

    Thanks to a series of leaks and early reveals, the 2015 North American International Auto Show didn't provide many surprises. There were, however, two worth noting:Firstly, the unveiling of the totally unexpected Ford GT supercar and also the stated price of a future Tesla vehicle -- the Model 3 -- which company founder Elon Musk said would start at $35,000.That's about half the starting price of Tesla's current model, the Model S, which kicks off at $69,900.

  • General Motors Plans Fresh Move Into Electric Car Market: Report

    The Wall Street Journal reported on Friday that General Motors plans to offer a new electric car model with a style and price-point that can compete with the popular Tesla Model S sedan. The $30,000 electric vehicle called the Chevrolet Bolt, expected to debut commercially in 2017, will be able to drive 200 miles on a charge and is intended to cut into a market where Elon Musk's Tesla Motors has been an investor darling.

  • Elon Musk: Ford Is 'Killing Sex'

    Even in the dry world of trademark enforcement, sometimes jokes just write themselves. At Tuesday’s Tesla shareholders meeting,Elon Musk joked that Ford is “killing sex.” But Tesla’s billionaire founder and CEO didn’t mean the Detroit automobile behemoth is literally putting a halt to lovemaking. He was talking about the name of his next-generation electric vehicle. First came the Model S, the sexy sedan which Tesla can’t manufacture fast enough. Musk is also CEO at rocket company SpaceX.

  • Elon Musk Dismisses Tesla Challenges In Detroit, Talks Of Sales Growth

    Elon Musk isn't shy about speaking his mind, and he did just that on the home turf of the Big Three U.S. automakers, at the 2015 Detroit Auto Show. After the conclusion of press days, Musk spoke for more than an hour at the Automotive News World Congress on topics ranging from Tesla's current challenges to criticism of other automakers' green-car strategies. Some analysts believe the current low gas prices will hurt sales of the Model S electric sedan.

  • Elon Musk Reveals a Tentative Timeline for the $35,000 Tesla Model 3

    If you want to know what Tesla's affordable electric car, the Model 3, will look like, you'll need to wait about a year.CEO Elon Musk revealed on a company earnings call Wednesday that the company plans to unveil the Tesla Model 3 — which is expected to cost about $35,000 before government subsidies — in March 2016, although he quickly backpedaled and said that the date could change.

  • Tesla's Musk Intros Model S "Autopilot" Features

    Turns out what was behind Tesla CEO Elon Musk's cryptic Tweet last week is a new semi-autopilot version of the Model S sedan. With added sensors it can park itself in a garage, "see" things like stop signs and pedestrians and turn on the air conditioning. It can also prevent accidents with computers kicking in and steering the car away from dangerous situations on the road.

  • Daily Digit: Tesla's Musk $13 Bln Pay Day

    The Daily Digit is 13 billion dollars. Tesla CEO Elon Musk is that much richer on paper thanks to a surge in his company's share price. The stock has been energized by a surprise quarterly profit when analysts were predicting a loss. Underlying that surprise, better-than-expected sales of its Model S sedan, the best selling electric vehicle, even though it carries a hefty $70,000 price tag and has faced resistance from traditional dealer networks.

  • Elon Musk Almost Sold Tesla Motors For $11 Billion, To Google

    If the proselytizing mouthpieces for Tesla’s automotive saviorhood were to hear this, they might just wail and gnash teeth. But it’s true: Elon Musk almost sold Tesla to Google for just $11 billion—in 2013.Coming to us by way of Ashlee Vance’s Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future, an excerpt of which appears on Bloomberg via The Car Connection, the news is at once unbelievable and entirely expected.

  • Tesla Goes Open Source: Elon Musk Releases Patents To "Good Faith" Use

    Tesla’s taking an unprecedented step of opening all its electric car patents to outside use. In a blog post on Thusday, Elon Musk said, Tesla has removed the patents decorating the wall of the company’s Palo Alto headquarters a symbolic move to coincide with this announcement. Tesla’s billionaire cofounder and CEO writes that the company “will not initiate patent lawsuits against anyone who, in good faith, wants to use our technology.”

  • Tesla Motors Frees Electric Car Patents For Competitors

    CEO Elon Musk says the company won't sue anyone who wants to use Tesla's technology in good faith. What's he thinking?

  • Tesla Motors To Share Patents To Spur Electric Car Development

    Tesla Motors Inc on Thursday said it would allow others to use its intellectual property in hopes of speeding up development of electric cars by all manufacturers. Tesla co-founder and Chief Executive Officer Elon Musk said the company would not take legal action against anyone who "in good faith, wants to use our technology." Musk said on the company's website that the industry would benefit from open-source sharing of technologies.

Other Advice Videos


  • Jack Bogle's Father's Day Advice

    Vanguard founder and former CEO John C. 'Jack' Bogle tells MONEY the advice he gives his kids about managing their money.

  • Mom Knows Best: Financial Advice from Mothers

    The Money staff shares the best financial advice their mothers ever gave them.

  • Listening to Mother's Financial Advice

    With Mother’s Day right around the corner, it is a good time to remember your mother’s tips for a better financial future. We review six suggestions that still serve as reliable advice.

  • Financial Advice for College Grads

    Here are a few money mistakes graduates should avoid and some advice they may want to follow.

  • Jason Anello on How to Give Better Advice When Asked for Help

    In Chapter 13 of 20 in his 2014 Capture Your Flag interview, creative director and marketing agency co-founder Jason Anello answers "How Have You Learned to Give Better Advice When People Ask You for Help?" Anello shares how giving better advice is to spend more time truly understanding the question you are asked rather than simply sharing what you did when faced with a similar situation. He finds putting himself in the other person's shoes - showing empathy - helps the advice conversation.

  • Andrew Hutson on Finding Sources for Life Advice and Career Coaching

    In Chapter 19 of 23 in his 2014 Capture Your Flag interview, environmental advocate Andrew Hutson answers "At This Moment in Your Life, Where Are You Seeking Advice and Coaching?" Hutson shares three resources he uses for advice and coaching. First and foremost, he relies on his wife for advice giving and attentive listening. Second, he builds mentor relationships in and out of work to provide role modeling and feedback. Third, he works with an executive coach to gain insight on management.

  • Mike Germano on How to Give Better Advice When Asked for Help

    In Chapter 20 of 23 in his 2014 Capture Your Flag interview, VICE Media Chief Digital Officer Mike Germano answers "How Have You Learned to Give Better Advice When People Ask You For Help?" Germano shares how advice requests can often be asks for other things, including asking for money. He also learns to know when not to give advice - including unsolicited advice - and instead help others make their own decisions. Mike Germano is Chief Digital Officer at VICE Media.

  • Bach: Money Advice for Women Entrepreneurs

    David Bach gives some money advice to women entrepreneurs.