Connect with us

Business

Tesla launches new Models S, X with cheaper price in US

Published

1 year ago

on

Tesla has launched two less expensive, shorter-range variants of its Model S car and Model X SUV in the United States, continuing its focus on lowering costs to prioritise sales growth, as per the automakers’ website.

The new S and X “standard range” versions are ready for delivery between September and October 2023 and are priced at $78,490 and $88,490, respectively — around 10% less than the previous lowest-cost models.

Cars with a “pearly white” exterior and an all-black interior are the least expensive, other colours are more expensive.

The new model S’s maximum driving range is 320 miles (515 km), which is less than the maximum driving ranges of the basic and performance trim levels, which are 405 miles and 396 miles, respectively.

The new model X SUV’s range, which can go up to 269 miles, is significantly less than that of its basic and performance trims, which can go up to 348 miles and 333 miles, respectively.

Tesla did not immediately respond to a request for comment on the new versions of the models.

Since late last year, the Austin, Texas-based automaker has lowered prices in the US, China, and other regions and provided various incentives to reduce inventory in an effort to fend off rivals and uncertain economic conditions.

The business lowered prices for its model Y long-range and performance variants in China on Monday, sending shares lower on worries that its profit margins will come under more pressure.

The most recent actions are being made as the automaker prepares to deploy its delayed Cybertruck for the first time and works to finish a facility in Mexico dedicated to a mass-market EV that will serve as the foundation for a robo-taxi.

The Model 3 sedan and Model Y crossover vehicles are Tesla’s newest products, whereas the S and X versions were debuted in 2012 and are more expensive.

In the second quarter of this year, the business delivered 19,225 Model X and S automobiles, up from 16,162 in the corresponding period last year.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

Published

2 days ago

on

By

The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

Continue Reading

Business

SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

Published

2 days ago

on

By

The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

Continue Reading

Business

Discos report losses of Rs239 billion.

Published

2 days ago

on

By

When compared to the same period last year, the data indicates that discos have decreased their losses in the first quarter of the current fiscal year.

The distribution businesses recorded losses of Rs239 billion in the first three months of the current fiscal year, a substantial decrease from the Rs308 billion losses sustained during the same period the previous year.

Additionally, the distribution businesses’ rate of recovery has improved. It has increased to 91% in the first quarter of this year from 84% in the same period last year, indicating success in revenue collection.

Regarding circular debt, the Power division observed a notable change. Last year, between July and October, the circular debt grew by Rs301 billion. Nonetheless, this year’s first four months saw a relatively modest increase in circular debt, totaling about Rs11 billion.

These enhancements show promising developments in the electricity sector’s financial health in Pakistan, where initiatives are being made to accelerate recovery rates and slow the expansion of circular debt.

Continue Reading

Trending