Tesla Launches Cheaper Model S, X Versions In US

(RTTNews) - EV giant Tesla Inc. (TSLA) has launched cheaper versions of its Model S and Model X vehicles in the U.S.

The lower-cost versions of both vehicles launched Monday are $10,000 less than the regular model, according to Tesla's website.

The Model X Standard Range starts at $88,490 versus $98,490 for the Model X. The less expensive version has a driving range of 255 miles to 269 miles, while the Model X has a range of 330 miles to 348 miles.

The Model S Standard Range starts at a price of $78,490 versus $88,490 for the Model S. The cheaper version of the Model S has a driving range of 298 miles to 320 miles, compared to 375 miles to 405 miles in the Model S.

Both models will have the same battery and motors as the dual motor variants that cost $10,000 more, but their performance and range will be limited by software.

The new variants will be available for delivery between September and October.

Tesla has already lowered the prices of its vehicles in the U.S., China and other markets, as it aims to increase sales amidst strong competition. The company has cut prices again for its Model Y and Model 3 cars in China.