Tesla Model Y becomes cheaper, but there's a catch. Details here

Tesla Model Y electric crossover is one of the bestselling electric vehicles worldwide. Next to the Tesla Model 3, the Model Y electric crossover is the US auto manufacturer's second bestselling car. Now, Tesla has introduced an even cheaper version of the Model Y that is available with the cheapest pricing for the Model Y lineup to date.

Priced at $49,990, the cheapest variant of the Tesla Model Y comes wearing a white paint theme on the exterior and gets a black synthetic leather interior. The sticker price of the EV keeps it within the cap of the newly revamped US federal EV tax credit system, which may make it eligible for the full $7,500 tax credit. However, Tesla has not revealed whether the new Model Y variant will qualify for the EV tax credit.

The cheapest Tesla Model Y electric crossover variant promises lesser range on a single charge and is likely to use the automaker's 4680 battery cells. The new Tesla Model Y variant is essentially the automaker's Standard Range version. As Tesla has stated, the new variant offers a 450 km range on a single charge, compared to the Long Range variant's 531 km and the Performance version's 487 km range. However, unlike the Tesla Model 3, the cheapest Model T features a dual-motor all-wheel drive powertrain. As Tesla's official website shows, the new variant is called Model Y.

This is not the first time Tesla has introduced a cheaper version of the Model Y. Previously, the US electric vehicle manufacturer launched a cheaper version of the crossover, which was produced at Giga Texas and came fitted with 4680 battery cells. It was available in the market for a limited time but not officially showcased on the website. However, this time, Tesla has officially listed the car on its website and made it available for all US buyers.