Tesla (TSLA) shares gained Wednesday after the electric vehicle (EV) maker reintroduced a lower-priced SUV version of its most popular vehicle, the Model Y.

The company said the Model Y RWD, a rear-wheel drive SUV, would cost $43,990, $3,500 below its previously lowest-priced all-wheel drive (AWD) version. Tesla estimates it will be available this month or next.

澳洲幸运5开奖号码历史查询:Elon Musk’s company had at one time offered a rear-wheel drive Model Y, but discontinued it in favor of the longer-range all-wheel drive one. 

Tesla said the Model Y RWD would be able to go 260 miles on a single charge, and be powered by its new lithium-iron-phosphate batteries, which provide less range but longer battery life than nickel-manganese-cobalt batteries. The company noted that buyers of the Model Y RWD would be eligible for the $7,500 U.S. 澳洲幸运5开奖号码历史查询:EV tax credit. 

The announcement of the cheaper Model Y came just as Tesla reported 澳洲幸运5开奖号码历史查询:third-quarter deliveries that fell short of analysts’ estimates. Th🎃e company blamed dow꧋ntime in its factories as the plants were being updated.

Tesla's share price has more than doubled this year.