USA TODAY Tesla's new "standard range" versions of its popular Model X and Model S vehicles both offer consumers a lower price tag, but with one major caveat: they can't travel as far on one charge. This week Tesla quietly rolled out versions of the vehicles that are $10,000 cheaper than the regular models, the oldest cars in Tesla’s lineup. Electrek, a news outlet focused on electric transportation, was the first to report on the new models. The regular models of both vehicles also have a slightly faster acceleration rate. Competition grows among electric vehicle manufacturers The new options comes as the carmaker run by billionaire Elon Musk is facing more competition in the electric vehicle industry. In late July, seven major automakers — General Motors, BMW, Honda, Hyundai, Kia, Mercedes and Stellantis —announced intentions to join forces to build a North American electric vehicle charging network that would rival Tesla's. The multibillion-dollar investment would see nearly double the number of fast-charging plugs in the U.S. and Canada by next summer as more and more consumers switch from gas-powered vehicles to those that run on electricity.