Tesla Unveils Cheaper Versions of the Model 3 and Model Y EVs

Tesla, the electric vehicle (EV) manufacturer, has unveiled more affordable versions of its popular Model 3 sedan and Model Y SUV. The standard Model 3 will now have a starting price of $36,990, a 13% reduction from the previous premium longer-range model. Similarly, the starting price of the Model Y SUV has been lowered to $39,990, an 11% decrease from the earlier premium variant. This move by Tesla aims to make its EVs more accessible to a wider range of consumers, expanding the adoption of sustainable transportation. The reduced prices reflect the company's efforts to streamline production and leverage economies of scale to offer more cost-effective options in the EV market. The announcement comes amidst the ongoing global shift towards electric mobility, as consumers and governments increasingly prioritize eco-friendly transportation solutions. Tesla's decision to introduce these cheaper models is seen as a strategic move to maintain its market leadership and cater to the growing demand for affordable, high-quality EVs.