A Tesla Inc. Model 3 vehicle stands on display during AutoMobility LA ahead of the Los Angeles Auto Show in Los Angeles. (Photographer: Patrick T. Fallon/Bloomberg)

Tesla Starts Deliveries of Dual-Motor Model 3 in July, Musk Says

(Bloomberg) -- Tesla Inc. Chief Executive Officer Elon Musk has revealed the specifications for two new versions of the Model 3, the car that is intended to be the company’s first high-volume vehicle.

The performance version, and a less expensive dual-motor, all-wheel-drive option for the company’s Model 3 sedan come as Musk faces pressure from investors to reform Tesla’s nine-member board in the wake of production delays for the model. Deliveries will begin in July, he said in tweets posted Sunday.

The performance Model 3 -- also dual-motor and all-wheel-drive -- will have a 310-mile range, and accelerate from a standstill to 60 miles per hour in 3.5 seconds. For $78,000 excluding an autopilot option, customers can push the vehicle to a top speed of 155 miles per hour, Musk said on Twitter.

The cost is about the same as a BMW M3, “but 15 percent quicker and with better handling,” Musk said.

The cost of the normal dual-motor, AWD option is $5,000, Musk said. That version also has a range of 310 miles, but takes a second longer to reach 60 miles per hour and has a top speed of 140 mph. One motor is optimized for power and one for range, Musk said.

Tesla, whose Model 3 is set to compete with BMW AG’s 3-Series and upcoming i4 electric sedan, has repeatedly pushed back production targets and temporarily halted assembly lines to rework them.

Musk said Tesla owners will also soon be able to request ranger services -- when a technician comes to your car to fix it -- with a few taps on their phones.

©2018 Bloomberg L.P.

Bloomberg
Stay Updated With Business News News On BloombergQuint