Tesla Motors is looking to treat electric car fans with a lower-priced option with its new entry level vehicle.
While the electric car maker's Tesla Model S 70D starts at $75,000, the company announced Wednesday that it will make the model available for $67,500 to those eligible for a federal tax credit, according to CNN Money.
The $70,000 version, on the other hand, is leaving Tesla's lineup on the same day.
Consumers looking for a cheaper electric car are getting their wish thanks to a $7,500 federal government rebate, The Los Angeles Times reported. California and some other states are also providing incentives that bring the price down.
Features of the 70D include all wheel drive and dual electric motors (one on each axle), similar to its older sibling the $105,000 P85D. The lower-priced car can also accelerate from 0 to 60 miles per hour 5.2 seconds and achieve a top speed of 140 mph.
Other features include a driving range of about 240 miles and a 70 KW-hour battery, CNN Money reported.
The 70D is only one of Tesla's new all-wheel-drive models, the others being the 85D and P85D , which come with a top speed of 155 mph, a 0-60 acceleration time of just over 3 seconds, and a range of over 270 miles.
Other models the automaker is working on include the all-wheel-drive Model X crossover SUV, which is scheduled for release in the third quarter of 2015, and the Model 3, which won't make its way to the road for a couple more years.
In the meantime, drivers can buy the 70D and choose from three different color options: Ocean Blue, Obsidian Black and Warm Silver. All three options are colors that Tesla has never used before.
