Tesla Announces Lower-Priced Model S & Model X That Run For Shorter Distances

Tesla is making its mark with versions of the Model S sedan and Model X SUV that are friendlier on the pocket. This step comes as the company faces challenges due to the high cost of borrowing, affecting demand for pricier electric vehicles.

The automaker has already made price cuts in both the US and Chinese markets. These new “standard range” models of the Model S and Model X come with price tags of US$78,490 and US$88,490, respectively.

However, the trade-off for lower prices is slightly less driving range. The Standard Range Model S now covers a distance of up to 320 miles, while the Standard Range Model X goes up to 269 miles. Keep in mind that these versions have performance and range limits set by software, with no plans for future updates to change this.

Tesla aims to attract buyers who want the Tesla experience without the higher price tag. The new models are expected to reach customers between September and October, as part of Tesla’s ongoing effort to offer more options.

This announcement follows a positive second quarter for Tesla, which saw a 19% increase in sales for its established Model X and Model S vehicles. As the electric vehicle market evolves, Tesla’s move toward more affordable options reflects a commitment to reaching a wider audience in the world of innovative automotive technology.

[via New York Post and Electrek, images via various sources]