Tesla slashes Model S and X prices in US to again boost demand

Illustration by Alex Castro / The Verge

Tesla has lowered the price of its most expensive EV models in the US, reducing the cost of a new Model S by up to five percent and Model X by up to ten percent. The pricing updates are already reflected on the Tesla website, and as Reuters reports, come just days after Chief Executive Elon Musk announced plans to increase production at Tesla’s Shanghai facility in order to meet the soaring demand caused by previous price cuts.

Following the latest cuts, a new Tesla Model S Plaid and Model X Plaid — the performance versions for both vehicles — now share the same price of $109,990. Meanwhile, the base Tesla Model S AWD is now $89,990, down from $94,990. When Tesla first unveiled its redesign for the vehicle back in January 2021, Model S…

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