Tesla is introducing more accessible versions of its electric vehicles, the Model Y and Model 3, in a bid to recapture market share and stimulate demand. These new “Standard” models come with an estimated range of 517 kilometers (321 miles) and aim to appeal to a wider audience. The Model Y Standard is priced just shy of $40,000 and features a less luxurious interior, including cloth upholstery and a simpler audio system, deviating from the premium experience of higher trims. The Model 3 Standard follows a similar strategy, costing under $37,000 and offering a reduced feature set. These releases arrive as the EV market intensifies, with rivals like Ford, Chevrolet, and Hyundai offering compelling alternatives in similar price brackets. The announcement coincided with a dip in Tesla’s stock value, as analysts pointed to a desire for more significant innovation rather than updated versions of current offerings to drive future growth.
Tesla Aims to Regain Market Share with Lower-Priced EV Options
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