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Tesla has shown the world that it can make really great electric cars but so far the models it has sold have been out of the reach for most average consumers, considering the fact that they can cost as much as $100,000. Tesla aims to fix that with the Model 3 that’s due to be partly unveiled next month. Interested customers might be able to pick one up for as much as $25,000 which is certainly a very affordable price when compared to the Model X and Model S.

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Tesla has said time and again that the Model 3 is going to be sold for $35,000 but the price tag doesn’t include federal and state incentives that customers are entitled to. Combined, these incentives can knock off as much as $10,000 off the retail price of the Model 3, making it a compelling option for those in the market for a new car.

State incentives will obviously vary by state but customers will receive a $7,500 federal income tax credit when they pick up a Model 3. Residents of Colorado get an additional $6,000 while those based in California, Massachusetts and Tennessee will get an additional $2,500 incentive for purchasing an electric car.

It’s great that Tesla will finally be able to offer an electric car that the mass market can afford but the question remains if it will be able to make cars fast enough to meet demand. The company has struggled with delays in the past and that remains a concern now.

Tesla is on track to unveil the Model 3 next month, it’s believed that the company could start delivering to customers either by the end of this year or by early 2017.

Filed in Transportation. Read more about , , and . Source: bloomberg

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