Electric Elon: Tesla shares surge boosts Musk’s billionaire ranking


Elon Musk's vehicle company earlier in July reported a decline in auto deliveries, albeit the drop was better than feared by the market and suggested a more robust performance among Telsa's new breed of electric cars compared to petroleum driven rivals.

The automaker has also canceled its lower-cost, standard-range (SR) version that would have started at $39,990, according to a Sunday tweet from Tesla founder Elon Musk.

Up until yesterday, that was supposed to be the Standard Range Model Y, which was supposed to go into production early next year.

Tesla has a history of reducing vehicle prices over time.

Tesla's automakers make sure to use different lineup versions, from using simple kWh capacity of its battery pack to identify its configurations in such using terms as the Standard range, Standard Range Plus, and Long Range.

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Vicki Bryan from Bond Angle stated regarding the decisions of Tesla with the Model Y that her concerns that there was no profit to be had from the Model Y were right.

This time it is the Model Y, an electric SUV the firm started delivery in March. But for one man 2020 is turning out to be the "best" year and it is none other than Tesla CEO Elon Musk.

When Tesla first unveiled the Model Y, it provided us with a chart detailing the four different planned trims for the electric SUV. That said, the new plan is for another affordable version to take its place in the coming few months. It reduced the prices on the base models and Effectiveness variations of the Product S and Product X by $5,000, and reduce the prices on all versions of its Design 3 by $2,000 (with rates a little various for Product 3s marketed in China).

This was expected to be the cheapest Model Y available on Tesla's roster following top-tier models like the Long Range AWD Performance, the Long Range AWD, and the Long Range RWD. "Significantly more than 300 miles" in fact.

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