Tesla announced improved battery ranges for the Model S and Model X and brought back the lower-cost version of both cars

Tesla Model S

Tesla announced a series of improvements to the Model S sedan and Model X SUV on Tuesday.
Both vehicles received drivetrain upgrades that Tesla said would improve the battery performance on the long-range version of both cars to 370 miles for the Model S, and 325 miles for the Model X.
Previously, the Model S and Model X had maximum battery ranges of 335 miles and 295 miles, respectively.
The long-range Model S and Model X will benefit from the extended range, while using the same 100 kWh battery pack, according to Tesla.
Both cars are now priced higher as a result: $78,750 (a $5,500 hike) for the S and $83,950 (a $6,000 increase) for the X.
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Tesla is touting a handful of improvements to the Model S sedan and Model X SUV.

Both vehicles received drivetrain upgrades that Tesla said would improve the battery performance on the long-range version of both cars to 370 miles for the Model S, and 325 miles for the Model X.

Previously, the Model S and Model X had maximum battery ranges of 335 miles and 295 miles, respectively.

The long-range Model S and Model X benefit from the extended ranges while using the same 100 kWh battery pack, according to a Tesla blog post published Tuesday. Both cars are now priced higher as a result: $78,750 (a $5,500 hike) for the S and $83,950 (a $6,000 increase) for the X.

The electric-car maker bundled a series of other announcements in its press release, including that it is bringing back the lower-cost Standard Range Model S and Model X, a month after they were quietly removed from the Tesla website.

Additionally, the company introduced upgraded air suspension systems for both vehicles and said it is now offering a free Ludicrous Mode upgrade (normally a $20,000 option) for existing Model S and Model X owners who buy a brand-new Model S or Model X Performance vehicle, the priciest version of the cars in the lineup.

Following up on a promise made in early March, the newest S and X models can also take advantage of faster charging rates using Tesla's new V3 Supercharger and the existing V2 units.

All of this news comes a day after CEO Elon Musk hosted an event — dubbed "Autonomy Day" — for investors on Monday. During the presentation, Musk touted Tesla's progress on its autonomous-driving technology.

The new-and-improved Model S and Model X also dropped just hours before Tesla is set to deliver its first-quarter earnings report. Wall Street analysts expect the automaker to swing to a loss after two straight profitable quarters, Business Insider transportation correspondent Matt DeBord wrote earlier on Tuesday.

Musk said previously that Tesla would likely have a muted first quarter. The market has taken note of that projection, pricing in the expected loss accordingly.

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