After a brief hiatus, Tesla has reintroduced the Model 3 Long Range (LR) for MY2023 with a base price of $47,240. The popular derivative was temporarily removed from the lineup last year after strong demand forced a production pause.

But now it's back and according to Tesla, deliveries should commence in June 2023.

As before, the Model 3LR can hit 60 mph in 4.2 seconds and boasts a top speed of 145 mph. What is different, though, is the claimed range. Tesla says the Model 3 LR has a maximum driving range of 325+ miles. While that's impressive, it's considerably less than the previous claim of 358 miles.

Aside from that, the LR is now only eligible for a $3,750 tax credit, as opposed to the full $7,500 enjoyed by the Model 3 Performance. That leads us to believe the reintroduced Long Range is using the LFP battery pack.

LFP (lithium-iron-phosphate batteries) are cheaper than their counterparts, but aren't as energy dense either, which could explain the reduction in range. The reason it doesn't enjoy the full incentive is because of the Inflation Reduction Act. In order to qualify, a vehicle needs to be assembled in North America.

At least half of the battery components must be produced here too, while 40% of the minerals need to have been sourced from the US or other free-trade nations. The Standard Range Model 3 also uses LFP batteries, which are produced in China. Like its LR sibling, it too only qualifies for the $3,750 incentive, so it's safe to assume the Long Range batteries are also made in the PRC.

While the smaller incentive and reduced range may be disappointing, there are several benefits to LFP batteries that may win buyers over. Because they don't require cobalt, they're easier to produce. What's more, they're less prone to degradation and are less likely to catch fire, thanks to a high heat threshold. They charge quicker too, which is a great benefit. LFP batteries aren't a fan of cold weather, so pre-conditioning is essential if you live in a chillier climate.

With incentives, a base Model 3 Long Range can be yours for $43,490. That's not a bad deal but, remember, the Model 3 Performance costs just $2,250 more after incentives. With a 315-mile range and superb acceleration, it may be the one to have. And if you're more concerned with cost than range, the Model 3 Standard Range is just $36,490 after incentives.

Then again, you could just wait for the facelifted model, rumored to arrive later this year.