Tesla to Release Lower-Priced Versions of Model S Car

NEW YORK (AP) — Tesla said Thursday that it has started selling a cheaper version of its Model S car in an attempt to make its electric vehicles more affordable for more people.

The new version, called the Model S 60, starts at $66,000. An all-wheel drive version of the Model S 60 will start at $71,000. Both cost less that the current Model S 90D, which starts at $89,500.

Tesla said that when tax incentives and gas-savings are taken into account, the Model S 60 will have an effective cost of about $50,000.

The company says the Model S 60 can travel 200 miles per charge and has a top speed of 130 miles per hour.

Palo Alto, California-based Tesla Motors Inc. is taking orders for the new Model S 60 for delivery next month, according to its website.