Tesla Inc's (NASDAQ: TSLA) latest vehicle, the Model Y, aims to take on one of America's bestselling vehicle segments: the crossover.While the initial offerings were the high-priced performance and all-wheel-drive variants, it looks like a lower cost option will be coming soon. This comes soon after Tesla recently dropped the price of the Model Y by $3,000.A new report from Electrek said Tesla has started making a lower-cost, rear-wheel-drive only version of the Model Y, citing unnamed sources familiar with the matter.This comes after a planned shutdown at Tesla's Fremont factory for Model Y general assembly line upgrades. The RWD version of the Model Y is expected to cost less than the AWD version, while also boasting more range, higher efficiency and a lower weight.Benzinga's Take: Tesla seems to be moving much faster to release multiple Model Y trims compared to when the Model 3 first launched.This shows Tesla has learned a lot about ramping production, while also having many Y lines in place from the Model 3, since the vehicles share approximately 70% of their parts, including motors and batteries.Photo courtesy of Tesla. See more from Benzinga * GM To Help Build 2,700 New EV Fast Chargers In US * Tesla Q2 Safety Report Shows Reduction In Autopilot Accidents * Tesla Obtains Bonds At Lower-Than-Expected Rate(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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