Tesla Raises Prices Of Select Model 3, Model S Vehicles In Dark Of Night

Tesla Inc TSLA has marked up the prices of some of its Model 3 and Model S model vehicles.

What Happened: The Palo Alto, California-based automaker quietly updated its website with fresh prices for both the Model 3 And Model S EVs Thursday midnight.

The updated prices for Model 3 trims are:

• Model 3 Standard Range Plus is now priced at $37,490 from the earlier $36,990
• Model 3 Long Range All-Wheel Drive costs $46,490 and was previously sold for $46,990.
• Tesla Model 3 Performance price remains unchanged at $55,990

For the Model S vehicles, the new prices are:

• Model S Long Range All-Wheel Drive price remains unchanged at $79,990
• Model S Plaid price remains $119,990
• Model S Plaid Plus price shoots up by $10,000 to $149,990 from $139,990

See also: How to Invest in Tesla Stock

Why It Matters: This is the second price change in Tesla vehicles in recent days. Last month, Tesla had slashed the prices of Model 3 and Model Y vehicle variants. 

The Model S Plaid Plus will use Tesla’s new 4680 battery cell which allows for faster charging, better power, and performance. 

See Also: Tesla, LG Chem Negotiate Making 4680 Cells In US And Europe: Report

The cells will be packed in the vehicle in a new fashion using the automaker’s structural pack approach. The Plaid Plus is expected to be released at the end of 2021.

The Elon Musk-led company also slashed prices by almost 25% in Japan recently where demand spiked following the cuts.

Price Action: Tesla shares closed nearly 0.8% lower at $668.06 on Wednesday and fell 0.52% in the after-hours session.

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