Tesla will be releasing a more affordable Model Y in a rear-wheel-drive configuration that will have a range of over 300 miles per charge.
The upcoming version would be Model Y’s first single motor variant for the all-electric crossover and is expected to have an entry price around mid-$40,000. By offering a Model Y Long Range RWD, Tesla would round out its Model Y selections with a broad spectrum of big-battery variants that differ mainly by performance, need for all-weather traction, and, of course, affordability.
“We have reduced pricing on Model Y LR dual motor & will offer a LR single motor Y in a few months, which improves affordability, while still keeping the product excellent,” said Musk over Twitter, in reply to a question on whether there was still intentions to offer a 250-mile Standard Range Model Y.
Tesla recently reduced the price of its Model Y Dual Motor to just below $50,000 at $49,990. The $3,000 price drop follows other recent price drops across its fleet, including the Model 3, Model S, and Model X. It’s part of the company’s bid to have price parity with combustion engine vehicles by reducing the cost of battery cells through economies of scale.
With rapid advancements being made to its battery cell technology and accompanying hardware, Tesla is quickly closing the gap between the experience of driving an electric car and gas car. Additionally, the company continues to set the bar higher for the minimum acceptable driving range in its electric cars.
When asked why Tesla won’t be releasing a Standard Range Model Y, Musk inferred that having under 250 miles of EPA-rated range would be “unacceptably low.“