Tesla has revamped the naming scheme for its most expensive and luxurious cars, the Model S and Model X, the company announced Wednesday.
the electric cars no longer call out their
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Longer-range versions of both the Model S and Model X will now simply go by "Extended Range." Former "P" models will now be referred to as "Performance." The simplified hierarchy leaves us with base Model S/Model X, Extended Range, and Performance. The move comes as Tesla works to maintain its profitability in the face of the federal electric-car tax credit's phase-out period. Tesla sold a qualifying number of cars last year, which triggered the sunset period for the credits this year.
Equally simple are all three car's battery capacity. The base, Extended Range, and Performance Model S and Model X will feature a 100-killowatt-hour battery pack, with extra range awarded via software updates. Base versions of the Model S start at $85,000 and provide 310 miles of range; an extra 25 miles of range costs an additional $8,000. Performance models are treated to 315 miles of range, but the appropriately named Ludicrous Mode is no longer standard. The extra 91 horsepower now costs an extra $20,000.
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The Model X electric SUV follows the pricing strategy identically but costs an extra $3,000 atop any Model S variant. Due to its heft, the standard range is 270 miles, and 295 miles for the Extended Range model.
Buyers looking at Tesla's most affordable car, the Model 3, will be treated to lower prices, too. The electric-car maker cut the base price by $1,100, which brings the starting price to $42,900. It comes after Tesla already slashed prices by $2,000 to offset the shrinking electric-car tax credit and the end of its costly customer referral program.