"Tesla launched new, more affordable versions of its Model Y and 3 electric cars this week. Limited cheap EV options are a key barrier to adoption, and automakers are rushing to fill that gap. Here's how Tesla's new vehicles stack up against the cheapest EVs on sale in the US. Tesla is finally jumping on the affordable EV bandwagon. Elon Musk's automaker launched the Model Y and 3 Standard on Tuesday, after teasing more affordable models for years."
"The stripped-back models come without marque Tesla features like Autosteer and rear screens and are around $5,000 cheaper than the classic Model Y and 3. That price cut fails to match the $7,500 federal tax credit, which expired at the end of September. A lack of affordable electric cars has been a key barrier to EV adoption, and Tesla's new models - which start at $36,990 - come as many of its rivals push to roll out their own cheaper vehicles."
Tesla introduced Standard versions of the Model Y and Model 3 that cost about $5,000 less than previous versions. The pared-down models omit features such as Autosteer and rear screens to reduce price. The starting price for the new models is $36,990. The $5,000 reduction does not match the $7,500 federal tax credit that expired at the end of September. Limited affordable EV options have hindered wider EV adoption, and other automakers are also introducing lower-cost electric vehicles. Tesla's move comes as competitors push to offer cheaper EVs to expand market reach.
Read at Business Insider
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