The cheapest Model 3 ever launched in Europe, will Elon Musk be able to save the sinking ship of the company?:

The world’s largest electric car company Tesla has created a stir in the European market. Amidst falling sales and tough competition from Chinese companies, Elon Musk’s Tesla has launched a cheaper version of its most popular sedan ‘Model 3’. The company hopes that this bet can prove to be a game-changer for it.

How much did the price reduce?

Tesla has kept the prices of this new model quite attractive in different countries of Europe.

• In Germany: Approximately €37,970 (approximately Rs 34 lakh)
• in Norway: 330,056 kroner (about Rs 26 lakh)
• in Sweden: 449,990 kroner (about Rs 36 lakh)

Some premium features have been cut in this cheap model, but there has been no compromise with the most important thing about the car, i.e. its range. This new car can also cover a distance of more than 300 miles (about 480 kilometers) once fully charged.

Why is Tesla so worried?

It became very important for Elon Musk’s company to take this step. There are some big reasons behind this:

1. China’s BYD overtakes: This is the first time in Europe that Chinese car company BYD has overtaken Tesla and taken the title of selling the most electric vehicles. Tesla sales are continuously falling.
2. Politics of Elon Musk: Tesla owner Elon Musk’s controversial political statements and his closeness to former US President Trump have also angered European customers. This has caused great damage to the brand image of the company.
3. New tax in Britain: In Britain, the government has imposed a new road tax on electric cars. From April 2028, EV owners there will have to pay 3 pence (about Rs 3) for every mile driven, which will increase annual expenses by an average of £250 (about Rs 26,000). This decision has also affected the demand for electric cars.

This new cheap model of Tesla is like a straw to support a drowning person. Now it remains to be seen whether this low price bet will be able to attract angry customers of Europe back to the showroom and whether Tesla will be able to regain its lost crown.