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IMAGE: VELAR GRANT/CORBIS
Tesla unveiled its latest entry-level car on Wednesday morning, although it's probably not as cheap as you had hoped.
The Tesla Model S 70D, which starts at about $75,000, is the newest electric car in the company's lineup. It replaces the Model S 60, which started at $70,000.
However, in a blog post published Wednesday, Tesla said that when you take into account the cost savings of never buying gasoline, as well as a $7,500 government tax credit for electric-car ownership, the actual cost of the Model S 70D is only $55,000 over five years.
In addition, there are significant improvements — the most prominent being all-wheel drive, driven by dual motors (which is what the "D" stands for).
The dual motors give the car better performance, enabling it to go from 0 to 60 mph in 5.2 seconds.The dual motors give the car better performance, enabling it to go from 0 to 60 mph in 5.2 seconds. (The Model S 60 achieved that in 5.5 seconds.) The range is also improved at 240 miles (the 60's was 225), and top speed is 140 mph.
With the 70D, Tesla's Model S lineup, which includes the 85D and the P85D, are now all D models. CEO Elon Musk launched the company's dual-motor designs at its "Unveil the D" eventlast fall.
Like other Tesla models, the Model S 70D gets over-the-air software updates, which will soon enable an "autopilot" ability; many see this feature as the first real step toward self-driving cars. That update, which can also summon the (driverless) car from a parking spot when it's on private property, is expected this summer.
For those looking for an even cheaper Tesla, Musk said the company is working on the Model 3, which will cost about $35,000 before tax incentives. It is expected to launch in 2017.
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