Tesla has recently made changes to its Model I lineup, introducing the long-range RVD variant and ditching the rear-wheel drive variant. The EV giant has slashed the price of the Model I RVD by $2,000 to $42,990, making it their lowest ever list price. The Long Range RVD will now start at $44,990.
The Model I LR RVD offers a range of 320 miles, an improvement over the previous range for an additional $2,000. The all-wheel-drive Model I LR has a range of 310 miles and offers quicker acceleration, starting at $47,990. Elon Musk announced on social media that recent RVD Model I vehicles have extra range that can be unlocked for $1,500-$2,000.
In addition to price changes and model variants, Tesla has also seen its share price jump by 7.7% last week. Shares moved above the 10-week line which previously served as resistance at 2024. Despite this positive share price movement, concerns about Tesla’s strategy and long-term growth prospects emerged after Elon Musk made changes at the company including breaking up teams for Supercharger and new vehicles.
Tesla’s new Long Range RVD is eligible for an IRA tax credit of $7,500 which brings down the effective price to $37,490 making it significantly cheaper than the Model 3 which starts at $38,99