LOS ANGELES — Elon Musk and his Tesla Motors Inc. have long promised the world a more affordable version of their much-admired battery-electric Model S supercar.
Now it’s here, but it isn’t the Model 3 – and it isn’t all that affordable.
Tesla will begin selling a new Model S 60, a slower version of the four-door plug-in sedan. The new vehicle will contain many of the safety and performance features included in the Model S, which has an average transaction price of more than $100,000. But the new Model S 60 will cost as little as $66,000. An all-wheel-drive version will sell for $71,000.
Tesla said the new car will have a range of 200 miles between chargings, and a top speed of 130 mph. It will accelerate from zero to 60 mph in 5.5 seconds.
A software update will be available that will allow customers to upgrade their 60s to get greater range, the company said.
Tesla emphasized that the new 60s are effectively even less expensive when buyers factor in the available tax incentives and estimated fuel cost savings.
Tesla calls the new car “competitive” and puts the car “in the $50,000 range” in terms of real cost.
“This is a way to conjure up some new interest in the Model S,” which has now been available for four years, said Jessica Caldwell, senior analyst at Edmunds.com.
The Model S cost has “been a roadblock for some people” and the new 60 version is a way to get “people interested in a cheaper Tesla, although it’s still not really that cheap,” Caldwell said.
The $66,000 price is more than twice the average selling price of a new car in the U.S. market, she noted.
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