Tesla's Affordable Models: A Bold Move to Regain Market Share
Tesla has unveiled more affordable versions of its Model Y SUV and Model 3 sedan to boost sales amid rising competition. The new models lack some premium features but offer substantial range. CEO Elon Musk has emphasized the importance of affordability as Tesla aims to achieve ambitious long-term sales goals.
Tesla, under the leadership of CEO Elon Musk, launched more affordable versions of its popular electric cars, the Model Y SUV and Model 3 sedan. The move aims to counteract declining sales and shrinking market share amid increased competition in the electric vehicle sector.
The new Standard versions are priced at $39,990 for the Model Y and $36,990 for the Model 3. These models offer 321 miles (516 km) of range but lack some features found in their higher-end counterparts, such as Tesla's Autosteer, rear touchscreens, and LED lightbars. The company is focusing on affordability to meet its sales targets.
Musk has been steering Tesla towards future technologies like artificial intelligence with projects like robotaxis and humanoid robots. Despite challenges, including political controversies and competitive pressures in key markets, affordable EVs are crucial for Tesla's goal of delivering 20 million vehicles over the next decade, a target tied to Musk's $1 trillion pay package.
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