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Tesla has introduced a new trim level to the Model S and X lineups that will come at a significant discount. Buyers will now be able to opt for a “Standard Range” example of the EV manufacturer’s large sedan and SUV.

Since updating the models in 2021, Tesla has only offered longer-range or Plaid versions of the Model S and X. They currently start at $88,490 for the sedan and $98,490 for the SUV. The new Standard Range versions will start at exactly $10,000 less: $78,490 for the Model S and $88,490 for the Model X.

That price cut will also come with a sacrifice to the driving range. Whereas the Model S is rated at up to 405 miles (652 km) of range by Tesla, the Standard Range model is estimated to have a range of up to 320 miles (515 km). That’s 85 miles (137 km) or 21 percent less than the more expensive model.

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The longer-range Model X gets up to 348 miles (560 km) of range and the new Standard Range model gets up to 269 miles (433 km) of range. That’s 79 miles (127 km), or about 23 percent less than the older model.

In addition, the new Standard Range models will understandably take a performance hit. Whereas the Model S can hit 60 mph (96 km/h) in 3.1 seconds, the Standard Range model takes 3.7 seconds. For the Model X, that figure goes from 3.8 seconds to 4.4 seconds. Both are meaningful drops in the realm of performance testing, but in normal driving are unlikely to make a difference to drivers.

Despite that, both Standard Range models will have two electric motors and all-wheel drive. Electrek reports that they will also have the same sized battery packs as the longer-range vehicles, but the extra capacity will be locked away with software, as Tesla has done in the past

Deliveries of the new models are set to begin in September and play into Tesla’s strategy of trading some of its profits in exchange for higher sales volumes.