Electric auto maker Tesla will flesh out its range with a trio of new models before 2020. That was the message from chief executive and founder Elon Musk late last week as he unveiled an upgrade to the company’s Model S sedan dubbed “ludicrous mode” and confirmed it is working on plans for a new all-electric sports auto.
Advertisement
The new mode will be offered on new Model S P90D trims at a cost of $10,000, but can also be retrofitted to older Model S P85Ds for $5,000. With the upgrade, which will cost $10,000 for new Model S buyers and, for the next six months, $5,000 for existing P85D owners, the vehicle can maintain Insane Mode power up to 60 miles per hour and beyond.
Elon Musk also announced that later today there will be a discussion about SpaceX rockets, most likely to do with June’s Falcon 9 explosion and future projects.
Jefferies analyst Dan Dolev said in a note to investors on Friday that cash concerns for Tesla were “overblown” and that he expected strong cash generation in the fourth quarter as Tesla ramped up sales of its Model X.
Based on the Tesla Motors official website, the Tesla P85D Model S electric sedan has a seating capacity of five adults.
That’s compared to the current max of 691 hp, and was made possible through the development of a new type of fuse that allows for an increase in the output of the car’s battery pack from 1300 to 1500 amps.
“X is on track for first deliveries in two months and Model 3 in just over two years“, Musk said.
Folks interested in the 85 kWh Model S can upgrade to a 90 kWh version that’s just $3,000 more (total price: $83,000 plus destination). Tesla’s share price has been steadily rising since March 27, when it hit $181.
Insane Mode has been very well-received, and Musk comments Tesla found out how to supersede it from an engineering perspective, “so we figured we should release that”. Details regarding performance figures are yet to be announced, although, Musk is fairly certain about the vehicle travelling 300 miles without the need to stop if you’re travelling around 65 MPH.
Advertisement
Of course, Tesla needs to deliver some pizazz with the Model X, because the crossover has been plagued with delays.
