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Tesla Trims Production Hours for High-End Models
Tesla Inc. said it has lowered the number of hours devoted to assembling its Model S sedans and Model X crossovers, citing production efficiencies and the elimination of entry-level versions of both electric vehicles.
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Tesla Inc. said it has lowered the number of hours devoted to assembling its Model S sedans and Model X crossovers, citing production efficiencies and the elimination of entry-level versions of both electric vehicles.
The company announced last week it was no longer accepting orders for the base 75-kW models. The longer-range versions of the S and X cost $94,000 and $97,000, respectively. Those prices are $18,000 and $15,000 higher than for the discontinued base models.
CEO Elon Musk says the move creates a deliberately greater price gap between the two flagship models and the company’s more affordable $44,000 Model 3 electric sedan. High-volume sales of the 3 are critical to Tesla’s financial viability.
Tesla lowered the prices of all models by $2,000 at the beginning of January to help offset the shrinking federal tax credit available to Tesla buyers. Last week Musk told employees the company also will shed about 3,200 jobs to cut costs and make it possible to offer a long-promised $35,000 version of the Model 3.
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