Tesla is releasing the more affordable Model S and Model X, but there’s a nuance

Tesla has launched more affordable versions of the Model S sedan and Model X SUV in the U.S. and Canada, but with a shorter range. Deliveries of the new cars will begin next month.

Tesla has launched the Model S sedan and Model X SUV in the U.S. and Canada.

The new Model S car with «standard range» costs $78,490 and has a range of up to 320 miles (515 kilometers), significantly less than the more expensive conventional twin-engine and tri-engine versions of the Plaid, which have a range of 405 miles and 396 miles, respectively, Reuters reported.

The new Model X, meanwhile, costs $88,490 and has a range of 269 miles (433 kilometers), which, again, is significantly less than the 348 miles (560 kilometers) offered by the more expensive variant. Both new cars will be equipped with the same batteries and engines as the two-motor variants, which cost $10,000 more, but the performance and range of the more affordable variants will be limited by software, a Tesla spokesperson confirmed.

The more attractive price tags are expected to appeal to first-time buyers of electric cars, who have so far been deterred by the relatively high cost of such vehicles compared to alternatives. Tesla’s latest move follows several rounds of price cuts across all of its models in an attempt to maintain healthy sales in an increasingly competitive electric car market.

The move follows several rounds of price cuts across all of its models.

In its latest financial report for the quarter ended June 30, Tesla delivered a record number of cars worldwide — 466,140 units, which came as a surprise to Wall Street as they had expected to see about 20,000 fewer. The Texas-based automaker delivered more than 1.3 million vehicles worldwide last year and is the top electric car maker in the United States. But it faces growing competition in its second-largest market — China, where local automakers such as BYD are very popular.

The Texas-based carmaker is also facing growing competition in China.

In July, Tesla’s chief executive said his company could continue to cut prices as the public’s purchasing power comes under pressure from an unstable global economy, but at the time he did not mention the introduction of new Model S and Model X variants, which came out this week.

The Tesla CEO said that his company could continue to cut prices as the public’s purchasing power comes under pressure from an unstable global economy.