The Tesla Model S and Model X are now $10,000 cheaper to buy in the US, but they won't travel as far on a full battery or accelerate as quickly.

Tesla introduced "Standard Range" versions of both models with reduced driving ranges. The Model S Standard Range costs $78,490, offers a driving range of 320 miles, and a 0-60mph time of 3.7 seconds. That's compared to the existing Model S, which costs $88,490, offers a driving range of 405 miles, and a 0-60mph time of 3.1 seconds.

It's a similar story for the Model X Standard Range, which costs $88,490, offers a driving range of 269 miles, and 0-60mph time of 4.4 seconds. That's compared to the existing Model X, which costs $98,490, offers a driving range of 348 miles, and a 0-60mph time of 3.8 seconds.

In both cases, it's the driving range that will factor most heavily in the decision on whether to save $10,000. As CNBC reports, Tesla introduced these cheaper models as a reaction to more manufacturers launching electric vehicles and wanting to remain competitive on price.

It's also worth noting that the new Standard Range models have a longer lead time, with Tesla estimating delivery in September or October for orders placed now. Orders for the existing, more expensive models can be delivered this month.

Last month, the first Tesla Cybertruck rolled off the production line, but anyone who pre-ordered the truck will still have to wait. Tesla also introduced the ability to recharge your EV using excess home solar energy, and had a great Q1 with the Model Y being the top selling car.

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