Nissan’s new Leaf electric vehicle will cost you less than the Tesla Model 3

Kazuhiro Nogi | AFP | Getty Images

Nissan CEO Hiroto Saikawa unveils the company’ new LEAF electric car at the world premiere in Makuhari, Chiba prefecture on September 6, 2017.

The Leaf is $5,000 cheaper than Elon Musk’s Tesla Model 3, which was unveiled in a high-profile launch in July.

The new Leaf features autonomous parking technology and a range of 150 miles, an over 40 percent improvement compared with the Leaf’s initial model released in 2010.

However, in terms of distance-per-charge, Nissan’s latest offering still trails behind models such as Tesla’s Model 3 and the Chevrolet Bolt, which can run 220 and 238 miles respectively.

But the Leaf’s current range can meet most consumers’ daily driving needs, according to Saikawa.

“For the day to day, we can cover most of the cases, which means you don’t have to worry about the autonomous range when you drive,” he said.

The implication for the EV industry, he added, would be that driving range would no longer be a strong differentiating factor across products.