July 28, 2021

Tesla Says Model S Long Range Plus Finally Received 402 Miles Rating From EPA, Confirms $5,000 Price Cut

According to Tesla, the feat has been achieved at the back of significantly cutting some weight of components in the vehicle, reduction in aerodynamic drag due to “newest 8.5 inch-wide aero wheels,” replacement of mechanical oil pump with an electric one, maximizing regenerative braking, and the widespread availability of supercharging.

The automaker also noted that it recently cut the price of the model by $5,000. It was reported to have reduced the prices of a majority of its vehicles in the United States and China last month.

Why It Matters

The status of the long range Model S 400 miles has long been a point of contention between Tesla Chief Executive Officer Elon Musk and the EPA.

Musk, at the earnings call for the first quarter in April, said the long range model had already achieved the 400-mile range, and that the EPA left the door open with the key inside the car that drained 2% of the battery, Electrek reported at the time. The EPA denied the allegations in a statement to the Verge days later.

Tesla Price Action

Tesla shares closed nearly 6% higher at $990.90 on Wednesday. The shares traded 0.3% higher in the after-hours session at $994.06.

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