Cost of living spec? Electric car giant Tesla launches new versions of existing models, but just that little bit cheaper
Elon Musk’s Tesla has launched cheaper versions of its Model S and Model X vehicles in the United States.
The more cheaper versions cost $10,000 less than the regular model, but has shorter battery range, according to Tesla’s website.
The offer of a more affordable electric models comes amid a global cost of living situation, coupled with increasing competition in the electric vehicle (EV) sector.
As the Tesla website shows, both versions are typically $10,000 than the normal model.
The Model X Standard Range for example starts at $88,490, versus $98,490 for the normal Model X.
The cheaper version has a driving range of 255 miles to 269 miles, while the normal Model X has a range of 330 miles to 348 miles, as well as a slightly faster acceleration speed.
The Model S Standard Range meanwhile starts at a price of $78,490, versus $88,490 for the normal Model S.
The cheaper version of the Model S has a driving range of 298 miles to 320 miles, compared to a 375 miles to 405 miles for the normal Model S.
Tesla offering cheaper EV models comes amid concern at the high purchase price (still) of EVs, compared to their ICE (internal combustion engine) alternatives.
Tesla is also facing increased competition, not just from other car makers offering new EV models, but also the growing number of second hand EVs for the budget buyers.
Tesla has also cut the prices of some EVs in its key markets. For example it cut prices again for its Model Y and Model 3 cars in China on Sunday.
This is something of a risky move, as Tesla faced protests in China in January 2023, when it suddenly cut the price of EVs in that market.
Hundreds of angry recent Tesla buyers in China gathered at the electric carmaker’s showrooms and distribution centres around China, to protest abrupt price cuts they had missed out on.