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Tesla to start deliveries of dual-motor Model 3 in July

Tesla to start deliveries of dual-motor Model 3 in July
Tesla CEO Elon Musk said Sunday that deliveries of the dual-motor Model 3 will start in July. (Tesla)

Tesla Inc. Chief Executive Officer Elon Musk has revealed the specifications for two new versions of the Model 3, the car that is intended to be the company's first high-volume vehicle.

The performance version, and a less expensive dual-motor, all-wheel-drive option for the company's Model 3 sedan come as Musk faces pressure from investors to reform Tesla's nine-member board in the wake of production delays for the model. Deliveries will begin in July, he said in tweets posted Sunday.

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The performance Model 3 -- also dual-motor and all-wheel-drive -- will have a 310-mile range, and accelerate from zero to 60 mph in 3.5 seconds. For $78,000 excluding an autopilot option, customers can push the vehicle to a top speed of 155 mph, Musk said on Twitter.

That's a significant increase from the $35,000 base price of a Model 3, which was intended to be Tesla's mass-market entry-level car and has been mired in delivery delays.

The $78,000 cost is about the same as a BMW M3, "but 15% quicker and with better handling," Musk said.

The cost of the normal dual-motor, AWD option is $5,000, Musk said. That version also has a range of 310 miles, but takes a second longer to reach 60 miles per hour and has a top speed of 140 mph. One motor is optimized for power and one for range, Musk said.

Tesla, whose Model 3 is set to compete with BMW AG's 3-Series and upcoming i4 electric sedan, has repeatedly pushed back production targets and temporarily halted assembly lines to rework them.

Musk said Tesla owners will also soon be able to request ranger services -- when a technician comes to your car to fix it -- with a few taps on their phones.

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