Tesla has just announced their new Tesla Model 3 midrange model that will be cheaper than the current Model 3 but not the cheapest model that Tesla has been promising since the beginning.

The new model was announced just as the US tax breaks for Tesla are about to be decreased. The new version will be offering about 260miles of range. When it was announced, Tesla announces that the vehicle will be sold for $45,000 but the new price now would be $46,000.

As for the long-promise based model, there is still no word on whether Tesla will ever offer it. At this point, some people believe that Tesla will forget about it as releasing it would affect their market but then again, they would risk angering their fans that have been waiting for the cheapest Tesla model.

Tesla will be reporting their quarterly results after the market closes on Wednesday.

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