Best of the Web: Musk Hints at Model 3 under $35K

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New York (CNN) Tesla has long promised a pared-down version of its Model 3 sedan that would be $35,000.

The electric car company announced Thursday, more than a year after Tesla began delivering Model 3s, that price point is finally available — but CEO Elon Musk said the company will have to close stores and lay off workers in order to make it financially sustainable to produce the cheaper car.

The Model 3 is “excruciatingly difficult” to make at the reduced price, Musk told reporters on a conference call.

The base model will have 220 miles of range, a top speed of 130mph, the company said in a blog post.

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