Shillong, August 15: Elon Musk’s Tesla has introduced more affordable standard variants of its flagship Model S and Model X cars in the US and Canada, reducing prices by $10,000 to compete in the premium EV market.
The new Model S and Model X Standard Range options were added to Tesla’s online configurator.
As per IANS, the Model S Standard Range now starts at $78,490 before options, offering a range of 320 miles per charge and a 0-60 mph time of 3.7 seconds.
The Model X Standard Range is priced from $88,490 and provides a range of 269 miles per charge, achieving 0-60 mph in 4.4 seconds.
While the Model 3 and Model Y qualify for a $7,500 US tax credit, the Model S and Model X do not receive any discounts. The lowered prices aim to attract more buyers and expand Tesla’s market share.
In Q2 2023, Tesla reported $25 billion in revenue and a net income of $2.7 billion, with over 466,000 vehicles delivered during the same period.
Tesla plans to produce around 1.8 million vehicles in 2023, focusing on cost reduction, new product development, and generating free cash flow.