70 kWh for $70k
Now, on to the awesome news of today. The 70 kWh version of the Model S in the single motor version at $70k costs $5k less than the dual motor version, consistent with the price differential for the single and dual motor 85 kWh car. Importantly, enough options are now standard that you will have bought a great car even if you pick the base version.
In many countries, national and state/province purchase incentives for clean energy vehicles improve the price to some degree. In the US, for example, the price after incentives is usually around $60k. Also, not having to buy gasoline and needing less service for an electric car typically saves around $2k per year, which accumulates to $10k over the national average car ownership period of five years. This economic advantage is often overlooked when evaluating gasoline vs electric cars. Moreover, these savings are experienced immediately in your monthly cost of transportation if you lease or finance an electric car.
90 kWh Pack
New buyers now have the option of upgrading the pack energy from 85 to 90 kWh for $3k, which provides about 6% increased range. For example, this takes our current longest range model, the 85D, to almost 300 miles of highway range at 65mph.
Existing owners can also purchase the pack upgrade, but I wouldn’t recommend doing so unless usage is on the edge of current range. On average, we expect to increase pack capacity by roughly 5% per year. Better to wait until you have more time on your existing pack and there is a larger accumulated pack energy difference.