Tesla’s Model 3, priced at $39,990, comes with an EPA‑certified 358‑mile range and a 283‑horsepower motor that can sprint from 0 to 60 in just 5.3 seconds. The sedan also offers 15.1 cubic feet of trunk space and a 17‑inch touchscreen that runs the car’s entire software stack.
When you stack that against the Ford Mustang Mach‑E Premium ($43,895) at 300 miles or the Hyundai Kona Electric ($34,000) at 258 miles, the Model 3 delivers the longest journey per dollar. It also sits in the same 1.5‑tonne SUV/compact‑sedan segment, so you can compare it directly to those rivals.
What makes that mileage possible is the silicon at its heart. Tesla’s custom Full Self‑Driving chip, a 14‑nm SoC with a neural‑net engine, crunches trillions of calculations every second to power Autopilot, traffic‑aware cruise control, and over‑the‑air updates that keep the car smarter over time. The chip is a key part of the so‑called software‑defined vehicle that lets Tesla roll out new features without a factory visit.
On the policy side, the Model 3 stays eligible for the federal $7,500 EV tax credit, and California offers an additional $3,000 rebate for plug‑in hybrids or EVs. Those incentives bring the effective price down to around $32,500, putting it in the sweet spot for many first‑time EV buyers.
Tesla has been shipping the Model 3 in the US since 2020, and the company is preparing to roll it out in India by the end of 2025. Keep your eye on the upcoming launch in Delhi and Mumbai, where local assembly may reduce the price further. The next big story will be the Model Y’s new battery pack, which could push range beyond 400 miles.