Tesla Unveils World’s Cheapest Electric Car

American automaker, Tesla has unveiled the Tesla Model 3, described as the world’s cheapest fully electric car.

The standard version goes for $35,000, while the long range version will cost $44,000, the company’s CEO and co-founder Elon Musk said.

According to the company the standard version can travel 354 kilometres on a single charge, and when charged for 30 minutes.

Musk said the demands for the Tesla Model 3 has surpassed supply, which he said will take till 2018.

He said the company received orders for the electric car in excess of 500,000 reservations.

“It’s an amazing car, but we’re going to go through at least six months now of manufacturing hell… There’s 10,000 unique components in the car, and production moves as fast as the slowest one,” Musk told reporters.

“Demand is not a challenge for the Model 3… We do everything we can to unsell the car. Have you ever seen an ad for the Model 3?

“We’re designing the Model 3 to ideally not require service. The next-generation powertrain is designed to be roughly a million miles between service, aspirationally.

“This is a great day for Tesla. it’s what we’ve been working for. The point of Tesla was to make a great, affordable car that was better than any gasoline car. It was never our goal to just make expensive cars.”

The latest move by Tesla comes weeks after both France and Britain announced plans to phase out diesel and petrol cars from 2040.