EV giant Tesla Inc's (NASDAQ: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.
Check out more of Benzinga's Future Of Mobility coverage by following this link.
Read More: PepsiCo Doubles Down On Electric As 75 Ford E-Transits Join Tesla Semi Trucks In Fleet
Photo by canadianPhotographer56 on Shutterstock