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Tesla Model 3 Ramp Up Aims to Crush BMW and Mercedes

Elon Musk rewrites the playbook for launching a new car.

One year ago this week, Elon Musk took to a stage to unveil his most important vehicle yet: the $35,000 Model 3. The electric five-seater accelerates as fast as the the best-selling luxury sport sedans in America—the BMW 3 Series and the Mercedes C Class—and costs about the same.

The value proposition was the best ever for an electric car, and the crowd ate it up