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Tesla is reportedly close to making a more affordable Model Y

Its first rear-wheel drive version is said to be in trial production.
Jon Fingas, @jonfingas
August 2, 2020
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Jason Cameron via Getty Images

Tesla might be close to making the Model Y decidedly more affordable. Electrek sources claim the automaker has begun trial production of a rear-wheel drive Long Range version of the electric crossover that would lower the price compared to the all-wheel drive models you have to buy now. Chief executive Elon Musk had hinted at an RWD model coming in the next few months, but there wasn’t an indication of progress until now.

We’ve asked Tesla for comment.

Musk axed the Standard Range RWD version of the Model Y earlier in July after claiming its range would be too low. This could be the lowest-priced variant you can buy, then.

It’s not certain how much this model could cost. Musk alluded to a $45,000 price when he revealed the new version, but the company’s loan calculator recently suggested it could cost $48,000. There’s also Tesla’s relatively frequent price changes to consider.

If the company does roll out the new version soon, though, it could significantly lift the company’s fortunes. The Model 3 remains Tesla’s main attraction in no small part due to its more accessible pricing. An RWD model could put the Model Y within reach of entry-luxury buyers who can’t justify the current versions but still want an EV more spacious than the Model 3.

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