Tesla launches low-cost Model 3 variant in Europe

STOCKHOLM, Dec 5 (Reuters) – Tesla launched the new, lower-priced version of its Model 3 car in Europe on Friday, a few months after releasing it in the United States, the company’s website showed.

The new Model 3 Standard is aimed at reinvigorating demand, the electric vehicle maker has said.

The move follows the October launch of a lower-priced Model Y crossover in Europe and comes as Tesla seeks to defend its market share against European and Chinese rivals offering increasingly cheaper electric cars in Europe.

The new Model 3 Standard is listed at 37,970 euros ($44 299,60) in Germany, 330,056 Norwegian crowns ($32,698) in Norway and 449,990 Swedish crowns ($47,820) in Sweden, according to Tesla’s website.

Tesla introduced the Standard variant of the Model 3 in the United States in October but until now this had not been available in European markets.

The car currently sells for $36,990 in the United States.

($1 = 0.8571 euros)

($1 = 10.0942 Norwegian crowns)

($1 = 9.4100 Swedish crowns)

(Reporting by Marie Mannes, editing by Terje Solsvik)

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