Google has launched Veo 3.1 Lite, a new video generation model aimed at developers looking for a budget-friendly option. This model delivers high-volume video capabilities at over 50% less cost than the existing Veo 3.1 Fast, while maintaining the same processing speed. With this addition, developers have more options to choose from based on their specific needs. Veo 3.1 Lite supports both Text-to-Video and Image-to-Video functionalities. It accommodates flexible video framing, allowing for landscape (16:9) and portrait (9:16) formats, in resolutions up to 1080p. Developers can also set video lengths to 4, 6, or 8 seconds, with pricing tailored to the chosen duration. Alongside this release, Google plans to lower the pricing for Veo 3.1 Fast to broaden access for more developers. The model is available today through the Gemini API and Google AI Studio for those on a paid tier. Developers can refer to the updated documentation for detailed specifications and pricing information.