Surprise! The "Real" Tesla Model 3 Doesn't Cost $35,000

Late last month, Tesla (NASDAQ: TSLA) handed over the first 30 Model 3 sedans to employee-customers at a very public launch event. Now, the electric vehicle pioneer faces the grueling task of ramping production from an average of a little more than 100 per week in the third quarter to an ambitious goal of 5,000 per week by year-end.

Tesla also took this opportunity to offer more details on pricing. As promised, the base version of the Model 3 will have a starting price of $35,000. However, you can't buy that version yet. Furthermore, most customers will probably feel compelled to buy at least some of the available options packages -- which can drive the car's cost way beyond $35,000.

At the launch event, Tesla revealed that the base version of the Model 3 will offer 220 miles of range, up from a previous estimate of 215 miles. Yet that still lags the 238 miles of range offered by General Motors' (NYSE: GM) competing Chevy Bolt.

Source: Fool.com