Tesla reveals its long-awaited more affordable models

On Tuesday, EV giant Tesla unveiled the long-awaited budget-friendly version of the Model Y, Tesla's most popular vehicle — and it costs $39,990 with 321 miles of estimated range.

But in a surprise move, the company also announced a Model 3 Standard that costs even less — with a price of $36,990.

Notably, the lower-cost models ditch some of the features that have previously come standard in other Teslas.

The Model Y Standard, for example, comes with "Traffic-aware cruise control" but lacks the driver-assist feature "Autosteer" available in other variants. On the exterior, gone are the "LED lightbar" and "adaptive high beams" — the budget model gets more traditional "LED headlights" and "Auto high beams" instead.

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