Tesla Cuts Model 3 Pricing as Chinese-Built Units Start Rolling In

The first tangible signs of what opening up the Canadian market to Chinese-made electric vehicles (EVs) will do to pricing have arrived. Tesla is reconfiguring its lineup here, and prices for the Model 3 sedan have been cut.

Tesla’s Canadian consumer website now lists two trim levels for the Model 3: the Premium and the Performance. The former only gets rear-wheel-drive, but is expected to go 463 km per charge and will sprint from 0 to 100 km/h in a spritely 5.2 seconds.

The Premium trim is also reasonably well equipped, with a 15.4-inch touch screen, in-car navigation, automatic unlocking doors, scheduled departure, and more all coming as standard. And it all rings in at $39,490, making it one of the least expensive EVs in Canada right now.

Impressively, the Model 3 Premium costs even less expensive than the much smaller Fiat 500e, which is only good for an estimated 227 km of range per charge. Only the Kia EV4 can currently be had for less, and only if you opt for its smallest battery pack, which gives drivers a shorter (but still adequate) 391 km of range.

It’s also worth noting that the Model 3 Performance costs a whopping US$42,490 (CA$57,825 CAD) in the U.S. where a 100 per cent tariff against vehicles assembled in China has been maintained.

Meanwhile, the Model 3 Performance gets all-wheel-drive traction, faster acceleration (3.1 second to 100 km/h), and an estimated 505 km of range. It costs nearly twice as much, though, with a starting price of $74,990 before non-negotiable fees and charges. Although still a large sum, the automaker previously charged $89,990 for the vehicle.