Recently if you wanted the cheapest version of the Tesla Model S, you had to get the Model S 70 which started at $71,500. But today, Tesla has announced a new low-cost version of the Model S.
The new Model S 60 starts at $66,000 (before federal and state incentives) and offers a maximum range of 210 miles. If you're wondering why this sounds somewhat familiar, that is because Tesla offered the Model S 60 up until last year when the 70 took its place.
Aside from the lower price, the 60 can be equipped with all-wheel drive (the 60D which starts at $71,000). Interestingly, the Model S 60 doesn't have a 60 kWh battery pack. Instead, it is a 75 kWh battery pack that are capped by software to pretend to be smaller. You can unlock the full capacity of the battery via a software update, but it will cost you $9,000 (along with a $500 service fee).
Press Release is on Page 2
As you know, Model S is designed to be a great car for every lifestyle, and we continue to make it even better. Last month we introduced design updates to Model S, and through continual software updates we've made Model S faster, smarter, safer and more enjoyable to drive. It's part of Tesla's relentless commitment to making its products better.
With these improvements, we've heard from a number of people who would like to buy a Model S, but can more easily afford it only at a lower price point. To respond to these requests, on Thursday June 9 we're introducing two new variants of Model S – Model S 60 and 60D, offering a compelling feature set and a great value at a new low price.
The new Model S 60 delivers more than 200 miles of range, a top speed of 130 mph and zero-to-60 acceleration in 5.5 seconds, starting at $66,000. The all-wheel drive option brings even more range and performance, beginning at $71,000. And every Tesla comes equipped with active safety features and Autopilot hardware.
Keep in mind that when comparing the price of any electric vehicle to an internal combustion vehicle, it's important to compare not just the out-of-pocket price, but also the effective cost of ownership. Factoring in annual fuel savings which typically ranges between $1,000 and $1,500, as well as available tax incentives, the effective cost of owning Model S 60 comes to about $50k.
And there are other advantages to owning a Tesla that add up over time, including:
- Less maintenance – Tesla vehicles don't require regular maintenance like oil changes, fuel filters or smog checks. And our four-year/50,000 mile bumper to bumper warranty and eight-year/infinite mile battery and drive unit warranty come standard with Model S.
- Ample charging options – for most Tesla owners, home charging provides plenty of range for daily travel, and with an EPA range of over 200 miles, that's still the case for Model S 60 and 60D. For long distance travel, there are many convenient Supercharger and Destination Charging locations throughout our network.
- New features via free software updates – as with every Model S, the 60 and 60D will receive free over-the-air software updates that add functionality and continue to improve the driving experience for years to come.
To provide customers even more flexibility over time, Model S 60 and 60D owners may later choose to upgrade their vehicles to a 75kWh battery with a software update, should they want to add to their car's battery capacity in the future.