Bereisa based his analysis on the base Model 3 being offered with a 60 kWh battery, like the Bolt, and on Tesla achieving a cost of ~$190/kWh. Evanson stated that Tesla’s battery pack cost is already below $190/kWh – meaning at least 26% less than Bereisa’s current estimate – and that the base Model 3 will be offered with a battery pack option smaller than 60 kWh, like Bereisa assumed. During the Model 3 unveiling last month, Tesla CEO Elon Musk said that the base Model 3, which is expected to start at $35,000 before incentives, will have a range of over 215 miles on a single charge.