New filings with the Environmental Protection Agency show Tesla Inc (NASDAQ:TSLA) could be launching a new version of the Model Y vehicle.
What Happened: A new filing with the EPA discovered by Electrek shows Tesla is gearing up to launch a 279-mile range version of the Tesla Model Y. The vehicle will feature an AWD powertrain.
Tesla sells two versions of the vehicle, the first is a Model Y Long Range AWD having 330 miles of range and the second is a 303-mile range Model Y Performance version.
Another version listed by the EPA is called the Model Y Standard Range RWD, which was discontinued by the company due to Tesla CEO Elon Musk not being pleased with the range.
The new Tesla Model Y version added to the EPA website is listed as “2022 Tesla Model Y AWD,” with a range of 279 miles.
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Why It’s Important: Electrek points to the new Model Y version is potentially a new vehicle with 4680 cells that could be built at the new Tesla Gigafactory in Texas.
“Therefore, it appears to be a dual motor powertrain Model Y with a smaller and slightly more efficient battery pack,” Electrek said.
Tesla unveiled the new 4680 battery cells in September 2020 and recently highlighted a one million production milestone for the cells in February 2022.
The cells are expected to have weight savings, lower costs and faster charging.
The lower range could come with a trade-off of a lower retail price and appeal to a new set of electric vehicle buyers, or could help Tesla offset the rising prices of nickel and lithium.
Deliveries of the Tesla Model Y from Gigafactory Texas are expected to happen in the first quarter, which is nearing a close.
TSLA Price Action: Tesla shares closed down 3.6% to $766.37 on Monday. Tesla shares have traded between $546.98 and $1,243.49 over the last 52 weeks.
Photo: Courtesy of tesal.com
