Powered by the same electric motor fitted to the Model S 70, the Model S 60 has a software-limited 75kWh battery pack that offers a new reduced range of 400km.
The price increases by $7500 to $108,300 if buyers opt for the Model S 60D, which adds an extra motor to the front axle for all-wheel drive traction.
Despite offering less range, the Model S 60 still manages to achieve a brisk 0-100km/h time of just 5.8 seconds and a top speed of 210km/h.
According to Tesla, if you factor in the reduced cost of owning an electric vehicle, primarily through fuel savings and a discount on the luxury car tax, the price comes in at $94,100, excluding on-road costs.
Model S 60 buyers receive the same four-year/80,000km vehicle warranty, and eight-year/unlimited km drive unit and battery warranty as other more upscale variants in the range.
Despite the fact it only offers drivers access to 60kWh of battery power, buyers can pay Tesla — $12,800 up front or $13,500 after delivery — to upgrade its software to access 75kWh of battery capacity.
The Tesla Model S 60 is available to order from June 9, with deliveries commencing locally around October 2016.