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Tesla To Retire Lowest-Range Versions of its Model S, X Vehicles

The price for a new Model S will start at $94,000 and the starting price for a Model X will be $97,000 from next week, according to Musk's tweet-announcement

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Tesla, board
Tesla To Retire Lowest-Priced Versions Of Its Model S, X Vehicles. Pixabay

Tesla will stop selling the lowest-range versions of its Model S sedans and Model X SUVs from Monday, the electric car maker’s CEO Elon Musk said. “Starting on Monday, Tesla will no longer be taking orders for the 75 kWh version of the Model S & X,” Musk revealed in a tweet on Wednesday, while asking people interested in buying those vehicles to place their orders latest by Sunday.

Higher-end versions of the S and X, equipped with a 100 kWh battery, will still be made and sold by Tesla, but at a higher price, CNBC reported, adding that Tesla did not respond to inquires as to why the S and X offerings were pared back.

Tesla CEO Elon musk, board
Musk lays foundation of first Tesla plant in China. (VOA)

The price for a new Model S will start at $94,000 and the starting price for a Model X will be $97,000 from next week, according to Musk’s tweet-announcement. The Model S and X are Tesla’s second and third major lines of electric vehicles, and are higher-priced lines compared to its newest Model 3, the report said. Tesla is taking steps to start Model 3 production in China.

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Earlier this week, Musk laid the foundation of a Tesla Gigafactory in Shanghai — the first-ever outside the US — that is expected to produce 500,000 electric vehicles per year and double the production capacity of Tesla. “Aiming to finish initial construction this summer, start Model 3 production end of year & reach high volume production next year,” Musk had tweeted, adding that “Shanghai Giga production of Model 3/Y will serve greater China region”. (IANS)

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Elon Musk Lays Foundation of First Ever Tesla Plant in China

Tesla has also cut its US prices by $2,000 as the federal tax credit granted to its buyers gradually gets reduced and phased out

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Tesla CEO Elon musk, board
Elon Musk showcases SpaceX's Starship test rocket. (VOA)

As the US-China trade talks began, electric car maker Tesla CEO Elon Musk on Monday laid the foundation of a Tesla Gigafactory in Shanghai — the first-ever outside the US — that is expected to produce 500,000 electric vehicles per year and double the production capacity of Tesla.

Musk attended the ground-breaking ceremony of Tesla Gigafactory with Shanghai Mayor Ying Yong.

“Aiming to finish initial construction this summer, start Model 3 production end of year & reach high volume production next year,” Musk tweeted earlier in the day, adding that “Shanghai Giga production of Model 3/Y will serve greater China region”.

“Shanghai Giga will produce affordable versions of 3/Y for greater China. All Model S/X & higher cost versions of Model 3/Y will still be built in US for WW market, incl China,” he further tweeted.

According to reports, the Tesla Gigafactory is the biggest foreign investment in Shanghai.

Tesla’s first Gigafactory in Nevada produces Model 3’s drive units and battery packs. The Shanghai Gigafactory is set to be equipped with production lines for both batteries and electric cars.

According to a report in teslarati.com, by producing its lower-end Model 3 and Model Y in Shanghai, Tesla would be able to price the vehicles very competitively in the country — regardless of the presence of a trade war between the US and China.

Elon Musk, spacex
Elon Musk. IANS

Bullish on his Chinese dream, Musk last July said he aims to invest long-term in the country and signed a preliminary agreement with the Shanghai government to build a Tesla Gigafactory.

Musk had earlier said that China’s progress in advanced infrastructure is “more than 100 times faster than the US”.

According to a CNN report on Monday, Tesla is forging ahead in China “at a tricky time for both the company and the country”.

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“China’s slowing economy and its trade war with the United States have hit the auto industry hard, with companies including General Motors (GM), Ford, Jaguar Land Rover and Volkswagen all reporting a slide in sales recently”.

“Tesla’s own prices in China have fluctuated wildly, with the company slashing prices several times last year even after China increased tariffs on imported US vehicles,” the report added.

Tesla has also cut its US prices by $2,000 as the federal tax credit granted to its buyers gradually gets reduced and phased out. (IANS)