Tesla's new version of the Model S, the 70D, comes in a new color: Ocean Blue.

With a spate of commitments from automakers to churn out lower-priced electric vehicles, like the Chevrolet Bolt, Tesla is making moves to provide a more affordable version of the Model S.

The maker announced its newest version is the 70D, which will cost $67,500 after applicable government incentives. It’s $75,000 before incentives. The new low-priced model comes amid a wave of other plug-ins cutting prices as well.

BMW recently announced buyers can lease an i3 for as low as $239 a month. However, just after that, Honda put out a new $199 lease for its Fit EV subcompact. The new lease price is a $60 a month cut from its previous offer of $259 a month.

It’s not just the leases prices. Heading into this year, Ford announced it was cutting the price of its Focus battery electric vehicle as well: by $6,000. The new starting price is $29,995 before any federal, state or local incentives are applied, which can cut the final price as much as $7,500. It was the second time the automaker cut the price on the Focus. It cut it $4,000 in 2013 hoping to drive sales then.

With gas prices at near record lows, an electric vehicle can be a tough sell these days and automakers needed to do something to spur sales. Fortunately, the price cuts appear to be having an impact.

According to the Electric Drive Transportation Association, sales of plug-ins (hybrids and pure battery electrics) are up slightly through the first two months of 2015 compared with year ago figures: 13,114 v. 12,950.

(Pricing wars: plug-in hybrid, EV prices dropping. For more, Click Here.)

While Tesla isn’t saying low gas prices or price cuts by other makers are the reason for the new model, Tesla’s clearly struggled with how to make a vehicle that is accessible to more buyers. The new model might be considered a starter model as it doesn’t go as far nor does it go as fast as the maker’s other Model S iterations: 240 miles on a charge with a zero-to-60 time of 5.2 seconds and a top speed of 140 mph.

While it’s not quite the rocket that the P85D is, the all-wheel drive 70D comes standard with Autopilot Hardware, Navigation, and Supercharging. And, as with every Model S, 70D will run on the new software 6.2 and owners will continue to receive free over-the-air updates that will add additional functionality, enhanced performance, and improved user experience over time, Tesla said in a statement.

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Tesla now has four versions of the Model S: 70D, 85, 85D and P85D. They run the gamut in terms of content and performance…and price. The new model is the first sub-$70k model offered by the Palo Alto, California-based EV maker.

The top range comes in the 85D, which will go 270 miles on a single charge, Tesla says, while the fastest model is the aforementioned P85D with a zero-to-60 mph time of just 3.1 seconds. Tesla also unveiled three new colors today; Ocean Blue, Obsidian Black, and Warm Silver, now available on any variant of Model S.

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The maker also hired F1 legend Kenny Handkammer as the Global Director of Service Training. He’s a 25-year F1 veteran who won championships with Michael Schumacher and Sebastian Vettel. He was also the chief mechanic on the Red Bull Formula One team that achieved a world record pit stop of just 1.9 seconds back in 2013.

With Tesla’s plans to offer quick-change battery packs, being able to ensure the “quick” portion of the program certainly seems to fit with Handkammer’s background.