Tesla Model S gets more affordable with 60 kWh battery

New, $66,000 model lowers the cost of entry to Tesla's model lineup

Prospective Tesla owners now have more affordable Model S options. Starting at $66,000 prior to the federal tax incentive, the new Tesla Model S 60 lands in-between the upcoming Model 3 and the Model S P 90.

The new Model S 60 has standard rear-wheel drive, as opposed to all-wheel drive of the 90D and the P90D, and it will have a base range of 210 miles whereas the other models get 294 and 270, respectively.

Tesla offers an software upgrade unlocks battery power for increased range and performance (from 60 kWh to 75 kWh) and a $5,000 all-wheel drive option is available.

Stock acceleration is pegged at 5.5 seconds for a zero to 60 sprint and top speed will be 130 miles per hour (140 mph with upgrade).

Rear-wheel drive models will have a 210-mile range (249 miles with upgrade), 315 horsepower and 325 lb-ft of torque. The all-wheel drive variant comes with a 218-mile range (259 with upgrade), 328 horsepower (259 when using all-wheel drive) and 387 lb-ft of torque.

According to Tesla, the cost of owning a Model S 60 comes in around $50,000, when you take tax incentives and fuel savings into consideration.

Taking into account the federal tax credit of $7,500, before state or local tax incentives, the new Tesla Model S 60 can cost as little as $59,000 - right between the $35,000 Model 3 and the $89,000 Model S 90D.

While the Model 3 won't be available for a few years, the Tesla Model S 60 will be available in July 2016.