Featured Image Credit: Tesla

Tesla could release a Model Y Long Range single-motor variant by the end of 2020, according to Elon Musk. The EV automaker just reduced the Model Y Long Range dual-motor variant by US$3,000, and now it costs US$49,990.

According to Musk, the Model Y LR single-motor variant improves the affordability of Tesla’s SUV crossover without compromising the vehicle’s overall integrity. A Tesla Model 3 owner speculated that the Model Y LR single-motor could cost around US$45,000 to which Musk replied with a single "wide-eyed" emoji.

We have reduced pricing on Model Y LR dual motor & will offer a LR single motor Y in a few months, which improves affordability, while still keeping the product excellent

— Elon Musk (@elonmusk) July 13, 2020

Tesla is currently in the middle of constructing a new assembly line for the Fremont Factory, dubbed the GA4.5 tent. It’s named after the Model 3 assembly line, named the GA4 tent, that Tesla built to refine the production of its affordable sedan. The new assembly line will presumably produce Model Y units, allowing Tesla to further ramp production of its SUV crossover. 

A previous Tesmanian report noted that Tesla’s GA4.5 tent was nearing completion, meaning the company will have at least one more assembly line dedicated to its Model Y ramp soon. The Model Y Long Range single-motor variant could be made in the GA4.5 tent.

If Tesla did release a sing-motor variant of the Model Y Long Range, it could significantly impact the company’s financial results for the last two quarters of the year. So far, the Model Y seems to be affecting the company’s financial results positively. During the Q1 2020 Earnings Call, Elon Musk said that the Model Y was already profitable. 

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— Elon Musk (@elonmusk) July 13, 2020

“Most surprisingly -- in other words, we are ahead of the schedule that we were ahead of already. Most surprisingly, Model Y was profitable already in its first quarter of production, something we haven't achieved with any product in the past,” Musk said.

Tesla’s Q2 2020 Earnings Call was scheduled for July 22. The call will reveal how profitable the Model Y has become since the first quarter. The Model Y's profitability in the first two quarters of the year could help analysts predict Tesla's future financial results.