Tesla’s ‘kick-ass’ model S upgrade lifts share price

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Tesla Inc (NASDAQ:TLSA) share price regained more ground as the much-anticipated launch of the S Plaid version of its electric saloon did not disappoint.

Elon Musk, chief executive, said it was the fastest production car ever and the first to go from 0-60mph in under two seconds.

A time of 9.23 seconds for a quarter of a mile was also the fastest ever for a non-custom car, he added.

Why the need for speed? The S Plaid has to show that “an electric car is the best car, hands down.” he said.

“Sustainable energy cars can be the fastest cars, the safest cars, can be the most kick-ass cars in every way, and that’s why we did the Plaid. Just to show, hands down, this is the way to go.”

The S Plaid has a top speed of 200mph with a range of up to 390 miles according to Tesla while heat pumps have been added to improve its cold-weather performance.

A new 17” touchscreen has also been added, with Tesla underlining its versatility during the demonstration by playing a game of Cyberpunk on the monitor.

Shares in Tesla, which have dropped from US$880 in January on worries over China sales, rising competition and Elon Musk’s cryptocurrency antics, were up slightly at US$610 overnight.

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