Tesla Inc. (TSLA) – Get report CEO Elon Musk delivered the first Model S Plaid, an ultra-fast, high-end version of his sports sedan, at a live-streamed event Thursday, driving the car at top speed along the company’s test track and on the stage of the event for your presentation.
Tesla made the Plaid “to show, without question,” that an electric car can be the best, the fastest, the safest and the most sustainable, Musk said.
The $ 123,000 model, which took its name from the 1980s motion picture comedy “Spaceballs,” accelerates from 0 to 60 mph in less than two seconds, per Tesla specifications. It offers a range of 390 miles, a top speed of 200 mph, and up to 1,020 horsepower. The acceleration has been compared to that of a catapult-launched roller coaster.
Musk said the enhanced charge allows 297 miles of range in 15 minutes.
For more information on the reaction and analysis, see the latest from Rob Maurer of Tesla Daily.
The Model S was Tesla’s first widely sold model, laying the foundation for the company’s lower-priced Model 3, which has dominated electric vehicle sales in recent years.
Tesla faces increasing competition in the electric vehicle space from start-ups and established automakers, notably Ford Motor. (F) – Get report, which is launching an electric version of its F-150 pickup, typically the best-selling vehicle in the US The Tesla pickup is expected to begin volume deliveries in 2022.
Some see the Plaid S model as a move to fend off high-end offerings from Mercedes Benz and Porsche, which are also making moves in the electric vehicle space.
Dozens of Tesla fans attended the handover in person, at a Tesla test-track facility in Silicon Valley, and it was also streamed online.
Musk, has tweeted frequently in recent months, particularly about cryptocurrencies. Tesla briefly pledged to accept bitcoin payments before reversing course, and Musk blames the carbon emissions tied to the heavy computing needed to mine additional bitcoins. It also emerged as a support for Dogecoin, another cryptocurrency first established as a hoax, but which has since become an accepted means of transfer among many online.
The SEC has reportedly criticized Musk for violating a tweet agreement reached with the agency in 2018 that requires his tweets about the company to be vetted by lawyers for Tesla.
Chis Versace of Real Money recently commented on Tesla and when he would buy it.
A former NYSE trader also recently offered comment on levels to watch out for for Tesla shares.