Tesla Revamps Lower Cost Model S for a Return

Posted by at 12:03 pm on June 10, 2016

Tesla Model STesla Motors Inc. is bringing back a 60 kilowatt-hour version of its Model S sedan that costs less than the one it discontinued last year. The new Model S 60 begins at $66,000 before federal or state incentives and can travel 208 miles per charge.

Tesla received more than 300,000 deposits for its upcoming lower-priced Model 3 car, which is scheduled to begin deliveries in late 2017 with a starting price of $35,000.

But until then, Tesla still has to sell cars — and consumers have let the Palo Alto, California-based company know that the Model S is still a reach for most wallets. Customers often pay more than $100,000 for the EV, especially when equipped with the biggest battery and premium options.

“We’ve heard from a number of people who would like to buy a Model S, but can more easily afford it only at a lower price point,” said Tesla in a statement. The company is adding both a Model S 60 and a 60D — the D designating all-wheel drive.

The Model S 60 is now the least expensive Tesla available for delivery. The 60D begins at $71,000. Both come equipped with Autopilot hardware. Tesla has said it will produce between 80,000 and 90,000 electric cars in 2016 and that it can make 500,000 by 2018. Most of those are expected to be Model S cars. In the first quarter, Tesla produced 14,820 vehicles, of which 12,851 were Model S and 2,659 were Model X sports utility vehicle.

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