The new Model 3 has also cut down on the driving range, ambient lighting and other features.

Tesla on Tuesday introduced lower-priced versions of two of its electric vehicle models in an effort to boost weakening sales but investors weren’t impressed by this as the stock of the company still went down after the launch.

The automaker is already going through challenging times and struggling with slowing demand, an aging product lineup, rising competition from foreign EV makers, and boycotts linked to CEO Elon Musk. However, the market’s reaction to the announcement indicated skepticism that the new models would meaningfully revive Tesla’s sales momentum.

Tesla Cheaper Versions Price

Tesla launched the new Model Y, priced at just under USD 40,000 and comes with a simplified interior.

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