Tesla has introduced more affordable versions of its popular Model Y and Model 3 electric vehicles, aiming to reignite slowing sales figures. The new “Standard” trims offer a starting range of approximately 517 kilometers (321 miles) on a single charge. This strategic move comes at a critical time for the company, as it navigates an increasingly competitive electric vehicle landscape and faces challenges such as an aging product lineup and consumer boycotts. The updated models, priced under $40,000 for the Model Y and under $37,000 for the Model 3, feature a more minimalist interior, reduced audio systems, and less premium materials compared to their higher-end counterparts. Despite the price adjustments, the vehicles are still significantly above Tesla’s long-held promise of a $25,000 electric car. Investors showed a tepid reaction, with Tesla’s stock experiencing a notable decline following the announcement, indicating expectations that these new iterations may not significantly alter the company’s market trajectory.
