Not to confuse it with the premium Model 3 that is available and pushed the $35,000 Tesla Model 3 has finally arrived, CEO Elon Musk says. The low-cost model does come with a number compromises mostly on Tesla's end as they would be closing stores and make online purchases available only.

The Standard Range base model starts at $35,000 and has a top speed of 130mph/ 210 km/h, it can accelerate from 0-60mph in 5.6 seconds. Tesla will also offers a Model 3 Standard Range plus at a starting price of $37,000, which has 240 miles of range, a top speed of 140mph and 0-60mph acceleration in 5.3 seconds. New is also a model for $ 40,000 with premium equipment, 425 km range and 225 km/h top speed. In this version, the leather seats are heated at the rear and front. There are also 14 speakers, satellite image maps with live traffic visualization and navigation, Internet streaming for music and an internet browser

Tesla announced that it is shifting sales worldwide to online only to “achieve these prices while remaining financially sustainable.”

“Shifting all sales online, combined with other ongoing cost efficiencies, will enable us to lower all vehicle prices by about 6% on average, allowing us to achieve the $35,000 Model 3 price point earlier than we expected,” the company said in a statement.

“Over the next few months, we will be winding down many of our stores, with a small number of stores in high-traffic locations remaining as galleries, showcases and Tesla information centers,” the statement continued. “The important thing for customers in the United States to understand is that, with online sales, anyone in any state can quickly and easily buy a Tesla.”

Tesla said the three new models could be delivered within the next two to four weeks. Reservation holders are still preferred. In Europe, the new models should be available within the next three to six months.