Tesla ( TSLA ) CEO and wunderkind Elon Musk just announced its Spaceball One "Ludicrous Mode" upgrade for the top-of-the-line P85D Model S electric sedan.
The cars 0-60 time improves by 10%, down to 2.8 seconds with a quarter-mile sprint clocking in at 10.9 seconds. This upgrade will cost $10,000, which is an improvement to the current "Insane" acceleration mode. Forbes reports that "Tesla pulled this off by upgrading the battery contacts and boosting the power delivery from 1,300 amps to 1,500 amps (maximum)."
Musk also announced there will be a battery pack upgrade from 85 kilowatts (kWh) to 90 kWh, which will cost $3,000. "The net result is that with our longest-range version, the 90D, you will be able to do almost 300 miles of highway-range at 65 mph," Musk said. "We expect to increase pack capacity by roughly 5 percent per year on average so I would recommend existing owners wait…until there is a larger accumulated pack energy difference."
The P85D Model S is already an expensive car with prices starting at $105,000. However, if someone can afford the P85D Model S, there is a good chance this person can afford the Ludicrous Mode, even though it is only a fraction of a second faster than its predecessor.
Tesla Motors currently has a Zacks Rank #3 (Hold) and is trading up about 3% before the closing bell.
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