Musk Claims Tesla Model S Price Will Be Lowered To $69,420

On Tuesday, Tesla Inc TSLA reduced the price of the Tesla Model S, cutting $3,000 from the price of the premium EV. Then today, Lucid Motors announced the company's competing electric vehicle would come in approximately $2,000 cheaper than the Model S, after federal rebates. But now Tesla CEO Elon Musk is hitting back.

Musk announced "The gauntlet has been thrown down! The prophecy will be fulfilled. Model S price changes to $69,420 tonight!"

These numbers are often joked about by the CEO, with Musk even making a 420 joke during Tesla's battery and investor day. This will bring an additional $2,570 discount to the Model S, which is no longer eligible for the federal tax credit.

Benzinga's Take: Musk is known for his humor and responding to fans on Twitter. Now it seems the competition is really heating up in the EV space, and customers are getting the benefit. Even though this is a joke by the CEO, we can expect the price to be reduced soon, and customers will save money as a result.

Photo courtesy of Tesla