Tesla's New Model 3 Performance Exceeds Expectations With 303-Mile EPA Range

EV giant Tesla Inc‘s TSLA new Model 3 Performance has been ascertained to a range of 303 miles by the Environmental Protection Agency (EPA), seven miles higher than the company’s initial estimate of 296 miles.

What Happened: Tesla introduced the Model 3 Performance variant in April and estimated a range of 296 miles for it. However, Tesla’s website now shows an EPA-estimated range of 303 miles.

In January, Tesla introduced the updated Model 3 in the U.S., initially offering two variants: rear-wheel drive and long-range. The Performance variant was conspicuously absent from the listings. However, a company executive affirmed its forthcoming availability.

Why It Matters: Tesla launched its new Model 3 Performance in the U.S. last month. While it was priced at $52,990 at the time of launch, it is now priced at $54,990 after two successive $1,000 price hikes.

The Model 3 Performance, unlike the other two versions of Model 3, is eligible for a $7,500 federal EV tax credit, taking the effective price for eligible buyers down to $47,490, below even the Long Range version of the vehicle which starts at $47,740.

The Long Range, however, has an EPA-estimated range of 341 miles, higher than both the Performance and rear-wheel drive variants. The more premium Tesla sedan, namely the Model S, has a maximum EPA-estimated range of 402 miles.

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