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Tesla has revealed more affordable versions of its Model 3 and Model Y, the Standard models, priced at $38,630 and $41,630 respectively. This launch follows the expiration of a $7,500 tax credit for EV buyers in the U.S. The Standard versions, which will be available in late 2025, offer fewer features than the Premium models but aim to compete in a more crowded EV market. Despite record sales in Q3, Tesla faces challenges from increasing competition, particularly from Chinese automakers, and backlash related to CEO Elon Musk's political affiliations.
Source: YAHOO