Tesla is finally making a lower-cost Model 3

Matthew DeBord/BI

Tesla is finally offering a less expensive version of its Model 3 electric car.

The company has relased and is taking orders for a "lower cost, mid-range" version of its mass-production vehicle, Tesla CEO Elon Musk announced Thursday on Twitter. In California, the car will cost $35,000 after federal and state tax rebates, he added.

Complimentary Tech Event

Transform talent with learning that works

Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More

Get the latest Tesla stock price here.