Tesla has released budget versions of its most popular electric cars Model Y and Model 3

The American electric car manufacturer Tesla on Tuesday, October 7, introduced cheaper versions of the Model Y and Model 3. The Y Standard will cost $39,990, and the 3 Standard - $36,990, according to the company's website.

These are the company's most affordable electric cars to date, although they are far from the $25,000 promised by Elon Musk, according to Business Insider .

Savings compared to premium versions range from $5,000 to $5,500.

To reduce the price, Tesla removed a number of features. The budget versions do not have Autopilot, heated seats, a touchscreen for rear passengers, adaptive headlights, and FM/AM radio. The Model Y Standard's range is also 10% shorter than the premium version .

First deliveries are expected in November-December.

The decision to launch cheaper models is due to a drop in demand after the abolition of the $7,500 state (federal) tax credit for electric vehicles. At the same time, the third quarter was a record-breaking one for Tesla, as consumers rushed to buy cars before the tax breaks were canceled.

Tesla shares fell by 4.45% after the announcement, as investors seemed to expect lower prices, BI points out.

• Tesla Model Y and Tesla Model 3 - are the most popular models of electric vehicles in Ukraine, but they are imported into the country mostly used, not new. Among new electric vehicles in August, for example, the BYD Song Plus EV was the leader.