Grace DeanThu, March 11, 2021, 6:27 AM

Elon Musk
Mike Blake/Reuters
  • Tesla has raised the prices of four of its electric vehicles.
  • The biggest change was to the Model S Plaid Plus, which now costs $10,000 more.
  • Two editions of the Tesla Model 3 and one version of the Model Y Long Range also got a price rise.
  • See more stories on Insider’s business page.

Tesla has pushed up the price of its Model S Plaid Plus by $10,000.

The sedan is now priced at $149,990 on Tesla’s website.

The electric automaker also raised the prices of some Model 3 and Model Y vehicles, too, partially reversing a series of price cuts made in February.

The Model 3 Standard Range Plus now costs $37,490, up from $36,990, and the Model 3 Long-Range All-Wheel Drive costs $46,490, up from $45,990.

It also raised the price of its Model Y Long Range by $1,000, to $49,990.

Reuters first reported on the news Thursday.

On February 18, Tesla dropped the price of its Model 3 Standard Range Plus, its cheapest sedan, by $1,000, to $36,990. Despite the latest $500 price hike, it is still the cheapest vehicle Tesla sells in the US.

Also in February, it cut the price of its Model Y Long Range by $1,000 to $48,990, after abruptly removing the entry-level version, the Model Y Standard Range, from its website. This made the Long Range the cheapest version of the SUV.

Thursday’s $1,000 price increase for the Long Range version effectively reversed February’s price cut.

The Plaid Plus is Tesla’s top-tier Model S, with a 520-mile range and 1,100 horsepower. The vehicle was first unveiled in January, and Tesla estimates that deliveries will start in late 2021. The car, which is Tesla’s most expensive, now costs $30,000 more than the second most expensive options – the Model S Plaid and the Model X Plaid, which both cost $119,990.

The prices of the Model S Long Range and Plaid, the Model 3 Performance, and the Model Y Performance haven’t changed.

The price hike comes as Tesla ramps up efforts to make a more affordable electric car. In September, CEO Elon Musk said the company would make a $25,000 “fully autonomous” electric car in about three years.

The head of Tesla China said the company’s Shanghai research and development center, where it will develop the vehicle, would be running by the end of 2021.

Read the original article on Business Insider


Categories: Technology

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