Tesla Debuts Cheaper Model S

(RTTNews) - Elon Musk's electric car company Tesla Motors (TSLA) has launched a more affordable version of Model S, which now sports a less powerful 60-kilowatt-hour battery pack but an attractive price tag of $66,000, before tax incentives.

The new version, which will be called the 60, will have a range of 210 miles per charge, while the all-wheel-drive version, the 60D, will be priced at $71,000 and have a range of 218 miles.

The Model S 60 will go from 0-60 mph in 5.5 seconds with a top speed of 130 mph.

The company expects to lure luxury car customers, who earlier were not able to afford Model S. Tesla expects the effective price of Model S 60 to be about $50,000 after tax incentives.