Tesla has massively cut prices across new models in the US, with the largest price drop occurring on the Model Y, which is now $13k and 20% cheaper than it was yesterday.
The changes just happened on Tesla’s website and seem to cover all models.
Over the course of the last year or so, Tesla has continuallyraised prices on all of its vehicles as demand for EVs has been extremely high. While Tesla’s sales and production have been growing rapidly, demand for EVs has also been growing, and supply of EVs has not been able to keep up.
But in recent weeks we’ve finally seen some signs that Tesla might need to shore up demand, or at least that the price hikes have gone a little too far. The first and most aggressive cuts so far have been in China, but several other markets are seeing discounts and incentives added to help move vehicles as inventory has grown.
Here are the new and old prices for Tesla’s various models:
Model
Old price
New price
Difference
Model 3
$46,990
$43,990
-$3k (-6%)
Model 3 Performance
$62,990
$53,990
-$9k (-14%)
Model Y
$65,990
$52,990
-$13k (-20%)
Model Y Performance
$69,990
$56,990
-$13k (-19%)
Model S
$104,990
$94,990
-$10k (-10%)
Model S Plaid
$135,990
$114,990
-$21k (-15%)
Model X
$120,990
$109,990
-$11k (-9%)
Model X Plaid
$138,990
$119,990
-$19k (-14%)
Other configurations, including Performance models, have also received price cuts, with the largest being the $21k (15%) reduction on the “Plaid” Model S. However, there is one significant price hike – the 7-seat option on the Model Y is now $4,000, rather than the $3,000 it used to be.
Among other things, this means that the base 5-seat Model Y now qualifies for the $7,500 EV tax credit in the Inflation Reduction Act. The 5-seat Model Y configuration was previously left out of qualifying since it’s considered a “car” rather than an “SUV” by government rules, which take into account a number of factors. This means that it needs an MSRP of under $55k to qualify, which base models now do.
So in addition to the $13,000 price drop, the base Model Y is another $7,500 cheaper for those who qualify for the full tax credit, meaning a Model Y ordered today could be more than $20k cheaper than one ordered yesterday.
Recently, Tesla CEO Elon Musk called for the government to reconsider this longstanding definition of “SUV,” which has been in place since before the Model Y went into production. He asked his followers to comment on the matter, but the public comment link in question looks to pertain to an annual update to the tax credit form, not to the tax credit qualifications themselves (his company’s lawyers might have told him about this, or he might have read it himself, if he weren’t spending all of his time doomscrolling on twitter).
After a year of price hikes, it’s about time that we got a few price drops. Tesla may now be the top luxury brand in the US, but the original concept behind the Model 3 and Y were to be the “people’s vehicles,” closer to the low-end of the luxury segment than the mid or high end.
Yesterday’s prices of $46,990 and $65,990 (!) didn’t look anything like those original numbers, so it’s great to now see some prices a lot closer – still not quite there, even after the federal tax credit, but closer.
And, while there definitely seem to be demand concerns across various markets, including North America, much of this must be attributable to the large price rises Teslas have seen in the last year. These cuts finally get us heading in the right direction in terms of price, and should spur significant additional demand. But in addition, CEO Musk has been doing his part to turn customers away with his social media antics, causing many people who would otherwise consider Teslas to look at other brands instead.
These price cuts will reverse the price portion of Tesla’s demand concerns, but it remains to be seen whether customers will remain turned off by the brand destruction to which its CEO seems committed.
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Tesla and Rivian have been embroiled in a lawsuit in which the former accused the latter of having stolen battery technology by poaching Tesla employees.
It sounds like the two automakers are finally about to settle the lawsuit, which has been going on for 4 years.
When Tesla filed the lawsuit, it wasn’t clear what trade secrets Tesla was claiming Rivian had stolen. However, we noted that the employees listed in the lawsuits were two recruiters, an EHS manager, and a manager of Tesla’s charging networks.
The automaker claimed that these employees brought “documents consisting of highly sensitive trade secret, confidential, and proprietary engineering information” when they went to work for Rivian.
Over a year later, we now learn that Tesla had notified the court that it expects to file to get the lawsuit dismissed after reaching a conditional agreement with Rivian. The company didn’t disclose the details of the settlement (via Bloomberg):
Tesla didn’t disclose specifics about the agreement in a court filing, but told a California state judge that it expects to seek dismissal of the case by Dec. 24 upon satisfactory completion of the terms.
Neither Tesla nor Rivian have commented on the reported settlement.
While Tesla has claimed that it somewhat open-sourced its patents, we have previously noted that it’s not exactly the case. Tesla claims to let other companies use its patented technology as long as they themselves don’t sue them over patent rights.
And in this specific case, Tesla alleges that Rivian has specifically hired employees to steal technologies. Again, Rivian has denied the allegation.
Electrek’s Take
The terms are unknown, but in similar cases, it often involves things like some level of access to make sure that no proprietary technology is being used or has been used.
The lawsuit is not exactly clear, but based on the timeline and the allegations of “next-gen batteries”, Tesla could have been talking about its 4680 battery cells, although those are cells. It could also be the structural battery pack.
French infrastructure specialists Proviridis have partnered with EVSE manufacturer Kempower to deliver a novel, underground charging solution for electric semi trucks designed to easily integrate into existing truck depots.
By installing its high-powered charging cabinets underground and integrating the charging cables into a solid metal pipe, Kempower and Proviridis have been able to make room for high-powered charging points in an existing truck depot that didn’t have enough space to install either conventional EVSE or overhead “drop lines.”
For the pilot, the metal pipe is painted in a striking yellow color to make it easier to see while maneuvering the lot, and keeping the dispensers themselves more protected than conventional concrete bollards. The 600 kW power cabinet is positioned a few yards away – a typical space-saving Kempower solution – and connected to the charge points by underground cable.
Proviridis believes their solution provides enough of a competitive advantage that fleet buyers looking to electrify will be eager to give it a try.
“The product is durable across a wide spectrum of temperatures and conditions, requires minimal ventilation, and can cater for a wide range of customer needs,” explains Olivier Verdu, Technical Director at Proviridis. “These are features which perfectly place the Kempower solution for this type of charging configuration in a logistics environment.”
In honor of Black Friday and Cyber Monday, eBike specialist Buzz Bicycles is offering an exclusive discount for Electrek readers on its Centris Class 2 Folding Bike.
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Buzz Bicycles is back with an exclusive new deal
Buzz Bicycles has been a mainstay on Electrek for a few years now, as we have covered several of its electric bikes, which suit riders of all skill levels and help them “Buzz through life.” Buzz is an omnichannel eBike brand that prioritizes direct-to-consumerism and has found success in its mission to deliver ultimate transportation solutions at an excellent value for its growing base of eBike enthusiasts.
The company strives to deliver riders a “Wow moment,” which is usually brought on as they feel the pedal assist function kick in. This feature delivers all you need to conquer hills and longer rides while enjoying new adventures with friends.
The Buzz team has utilized decades of industry experience into its portfolio of eBikes, all conceived and designed in Dayton, Ohio. The company, which operates under the United Wheels umbrella alongside brands like Huffy Bicycles, Niner Bikes, and Batch Bicycles, has adopted an ethos that the freedom of riding should be fun and accessible for everyone, no matter what adventure lies ahead.
By leveraging the global presence of its parent company, Buzz Bicycles can make good on its promise to deliver affordable eBikes that are comfortable, powerful, and safe, much like the Centris Folding eBike, which is as versatile and compact as it is fun. The exclusive deal Buzz Bicycles is offering on the Centris makes it even more fun. You can take advantage of it below.
But first, you’ll want to learn about the capabilities of this foldable eBike to truly understand its value, as well as what accessories are available to level up your purchase.
The Buzz Centris is an easy to ride foldable eBike for all
The Buzz Centris is a Class 2 Folding eBike built for comfort and convenience no matter where you take it. At full size, the Centris’ step-through frame offers a low step-over height of just 16 inches, perfect for riders of all sizes, enabling easy transitions from ground to saddle for its riders.
When you’re not riding, the Centris from Buzz Bicycles folds neatly to 34 inches in length and 22 inches in height, making it easy to store at home or to carry in a vehicle on the way to your next ride. Furthermore, the assembled bike only weighs 68 pounds, making it easy to transport.
You can easily navigate tougher terrain on the Centris thanks to the eBike’s 20″ x 4″ knobby tires and front suspension. The bike is powered by a 48V, 500-watt-hour (Wh) battery pack that can propel it to a top speed of 20 mph for an all-electric range of up to 40 miles on a single charge.
Additionally, this folding model from Buzz Bicycles comes equipped with both a front and rear rack, offering versatile cargo-carrying options so you can customize your ride with a variety of Buzz accessories.
Like all Buzz eBikes, the Centris is tested and deemed compliant with the UL2849 standard. This standard covers the entire electric bicycle system, including the motor, battery, controller, and charger, offering the highest safety standards for added peace of mind.
The Centris Class 2 folding bike from Buzz is available in two colors: Gloss White or Matte Black. This $1,199 eBike is currently reduced to $899 – and you can score an additional $200 off with this exclusive promo, but only for a limited time.
With the purchase of any Buzz eBike, including the Centris, you are guaranteed the following:
10-year limited warranty (lightweight aluminum frame protected for full 10 years)
2-year limited warranty (electrical components covered by 2-year warranty for peace of mind)
6-month limited warranty (additional bike components protected by a 6-month warranty)
Are you interested in the Centris from Buzz Bicycles? You’ve come to the right place. Starting today, while supplies last, you can take advantage of an additional $200 off the sale price by using promo code “ELECTREK200.“ That’s a $500 discount in total!
We highly recommend perusing Buzz’s entire lineup of products. They are designed for commuters and casual riders, with technology and features that help you quickly feel comfortable riding. If you are new to the world of E-transportation, Buzz Bicycles is the brand for you.
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