Tesla Inc. TSLA has released a cheaper, long-range version of the Model Y facelift. The new version replaces the limited-run launch edition, which is no longer available for sale by the company. Here's how the new model differs from the previous version.
What happened: The long-range version retails for about $41,490 with the Federal EV credit. The new Model Y is cheaper by about $10,000 when compared to the launch edition.
The version is available only with all-wheel drive and has a claimed range of 327 miles on a single charge, according to Tesla. It comes with 19-inch wheels as standard, but there is an option to upgrade to 20-inch wheels, although that'd bring the range down to 303 miles and cost $2,000 extra.
Customers would have to pay an additional $8,000 for the FSD feature as well as an extra $1,000 for a tow hitch. As standard, the Model Y Facelift is available in the ‘Stealth Grey' paint shade, but other colors are available at an additional of $1,000-$2,000 depending on the shade.
Why it matters: Tesla has recently been launching cheaper trims of its models. Previously, the company released a cheaper, rear-wheel drive, long-range version of the Cybertruck in the U.S.
The cheaper trim levels could help the brand appeal to a wider range of consumers in the domestic market, which has seen an uptake in EV adoption among drivers.
The company also announced a comprehensive list of Spring software updates for all of its models, bringing in some highly anticipated features to Tesla vehicles. The updates would help Elon Musk's company stay competitive in the domestic EV sector, where it dominates in sales.
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