Update: Tesla has discontinued the Standard Range Model S and X described in this article on September 1st 2023 after Tesla released the new Model 3 in China and Australia and reduced prices on Model S and X.
The new Model S Dual Motor All-Wheel Drive Standard Range is priced at $78,490. The specs on this vehicle are still above that of the Model 3 Standard Range. It’ll go 320 miles on a full charge. Top speed is 149mph and it accelerates from 0 -60 in 3.7s.
Creating a variant of the Model S priced $10,000 lower than the Model S long range which is priced at $88,490 is a strategy to reach more consumers in a tough economic environment and protect margin. The drop in range from 405 miles to 320 miles may use less batteries and lowers the bill of material. It is also possible that this variant is software limited version and the Standard Range models are physically exactly the same as the regular version. In that case then Tesla loses margin on these models but would have a pathway for the owner to upgrade later to unlock the extra range. In either case, it is a better option than to drop the Model S price by $10,000 which hurts resale value for existing owners. Except for the battery size, the rest of the vehicle content is identical and there is very little engineering effort required or new factoring tooling.
Tesla also added the Model X Dual Motor All-Wheel Drive Standard Range model for $88,490 (vs Model X (long range) at $98,490. The range is 269, top speed is 149 mph and gets to 0-60 mph in 4.4s.