Tesla Launches Cheaper Model S and X Variants with Shorter Ranges

Tesla has introduced new lower-priced Standard Range variants of the Model S and Model X with reduced driving ranges.
The Standard Range models are priced around $10,000 less than the regular Long Range versions.
Tesla has also cut prices in China multiple times recently amid competition and inventory concerns.
The Standard Range variants have slower acceleration and use the same batteries as more expensive models but with capacity limited via software.
The launch of cheaper options indicates Tesla's push to increase affordability and boost sales volume.