CEO Elon Musk says lower-cost electric car will reignite demand by appealing to broader range of buyers
Tesla has launched the lower-priced version of its Model 3 sedan in Europe in a push to revive sales after a backlash against Elon Musk’s work with Donald Trump and weakening demand for electric vehicles.
Musk, the electric car maker’s chief executive, has argued that the cheaper option, launched in the US in October, will reinvigorate demand by appealing to a wider range of buyers.
The new Model 3 Standard is listed at €37,970 in Germany, €330,056 Norwegian kroner and €449,990 Swedish kronor. The move follows the launch of a lower-priced Model Y SUV, Tesla’s bestselling model, in Europe and the US.
Tesla sales have slumped across Europe as the company faces increasingly tough competition from its Chinese rival BYD, which outsold the US electric vehicle maker across the region for the first time in spring.
