The daily business briefing: July 16, 2019

Tesla announced Tuesday that it was updating its options and prices to simplify its electric-car offerings. The company said it was dropping the “Standard Range” versions of Model S sedan and Model X sport-utility vehicle, leaving just the “Long Range” and “Performance” versions as base options. With the change, the starting prices will rise to $84,990 for the Model X and $79,900 for the Model S, excluding any buying incentives. Tesla also said it was lowering the starting price for the Model 3, its first mass-market vehicle, to $38,900. Tesla produced a record 72,531 Model 3 sedans in the second quarter, and some employees said they took shortcuts, such as reducing testing for water leaks, at Tesla’s open-air “tent” factory to meet aggressive production goals. [Reuters, CNBC]

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