Tesla garnered plenty of attention when CEO Elon Musk announced that the company was working on an affordable variant of the Model 3 which will cost close to $35,000.

It has been months since Musk made the announcement and we still have no news of a model in the mentioned price range. However, recent reports suggest that the electric-maker has opened bookings for a Model 3 with close to 420km of range with a price tag of about $45000. The $4000 drop from the model that went on sale last year calls for a shorter range and lower top speed.

The previous iteration of the car which is currently on sale costs $54,000 and delivers a range of close to 500km and a faster 0-100kph time lapse. Tesla has also pulled the plug on the cheaper rear-wheel version of the car.

In the same breath, Tesla will also stop providing the full $7,500 tax credit after December 31 as the company reached the 200,000 sales mark in July. The company clarified that it had planned to cut the incentives into half for the first six months of 2019.

Tesla’s sales figures of electric-vehicles doubled in the third quarter compared to the second to 83,500 vehicles. However, out of the total sales, 55,840 were Model 3 sedans. These sales figure fell in the range of Tesla’s forecast as the company began mass-manufacturing the sedan. This could prove as a turning point for Musk who took the fate of the company towards an unprecedented instability with his tweet about taking the company private.