October 19, 2018 / 10:50 AM / a month ago

Tesla rises after co launches new Model 3 for $45,000

FILE PHOTO: Rows of the new Tesla Model 3 electric vehicles are seen in Richmond, California, U.S., June 22, 2018. REUTERS/Stephen Lam/File Photo

- Shares of electric carmaker (TSLA.O) up 1.6 pct at $268.21 premarket

- Co introduces a new $45,000 version of Model 3 sedan, as U.S. tax breaks for TSLA cars are about to decrease

- Rear-wheel-drive model has a “mid range” battery, a range of 260 miles, according to TSLA’s website

- Up to Thursday’s close, stock had fallen ~15 pct this year, after gaining ~46 pct last year

Reporting by Akanksha Rana in Bengaluru

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