Tesla Launches Highly-Anticipated Standard Range RWD Model Y: What You Need To Know

Tesla Inc TSLA launched a new Standard RWD version of its Model Y sports utility vehicle, which now comes with a third-row seven-seat option.

What Happened: The price for the Standard Range Rear-Wheel Drive Model Y is $40,490 — and potentially $34,190, post subsidies, according to Tesla’s website. 

The Elon Musk-led company already sells two other types of All-Wheel Drive SUVs — the Model Y Long Range Dual Motor and the Tesla Model Y Performance for $42,190 and $52,190 respectively, after factoring in subsidies. 

The seven-seat layout will cost an additional $3,000 and is available across Model Y variants.

Why It Matters: The RWD Standard Range Plus model of the Model 3 sedan starts at $34,190, post subsidies, which means the price difference between that vehicle and the Model Y RWD version is now just $4,000. 

Tesla lists the estimated range for the RWD Model Y as 244 miles. In July, Musk had said that the automaker would not produce the RWD version of the SUV as the range would be “unacceptably low.”

Benzinga EV Insights noted in August that Tesla was moving much faster to release multiple Model Y trims compared with Model 3’s launch timeline.

Price Action: Tesla shares closed nearly 7.9% at $816.04 on Thursday and gained 1.65% at $829.50 in the after-hours session.

See Also: Apple Negotiates Tie-Up On Self-Driving EVs With Hyundai

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