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Tesla Motors (TSLA) Debuts New $75,000 Model S 70D - Stocks in the News

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On Wednesday, Tesla Motors Inc (TSLA) announced a new entry-level car dubbed the Model S 70D, a new version of the all-electric Model S sedan. Prices for the new car will start at $75,000, but buyers will be eligible for a federal tax credit that decreases the price to $67,500.

The Model S 70D will come equipped with a dual motor, now a standard addition to all Tesla models. The sedan has all-wheel drive, 514 horsepower, and a 0-60 acceleration time of 5.2 seconds. The Model S 70D will also have a 70 KW-Hour battery life with a 240 mile driving range.

The new S will come packaged with Tesla's Autopilot hardware, allowing the car to mechanically speed up and slow down with moving traffic, as well as a navigation system, blind spot detection, and other features.

The Model S 70D will be available in colors brand new to the Palo Alto-based company: Ocean Blue, Obsidian Black and Warm Silver.

However, Tesla's $70,000 original Model S will no longer be available. The company is still working on a cheaper entry-level vehicle, but its highly-anticipated Model 3, which starts at $34,000, will not be available for a few more years.

In early afternoon trading, shares of Tesla Motors are up a respectable 2.14% on the day and rest at $207.59. The company sits at a Zacks Rank #3 (Hold).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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