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Tesla Improves Range, Acceleration With New Vehicle Options

Tesla's 'Master Plan, Part Deux' Is Revealed 1:13

Tesla CEO Elon Musk announced today the automaker will be offering new versions of its Model S sedan and crossover Model X boasting faster acceleration and longer battery range.

The Model S P100D with the company's Ludicrous mode will have a 315-mile range. The sedan can accelerate from 0 to 60 mph in 2.5 seconds, making it the fastest car in the world that is currently in production, according to Tesla.

Tesla Motors Inc. Chief Executive Officer Elon Musk News Conference
Elon Musk, co-founder and chief executive officer of Tesla Motors Inc., attends a key delivery ceremony of the company's premium electric sedan Model S vehicles to customers in Tokyo, Japan, on Monday, Sept. 8, 2014. Bloomberg / Bloomberg via Getty Images file

The Model X P100D with Ludicrous mode will be able to shoot from 0 to 60 mph in 2.9 seconds. The vehicle will also be able to travel 289 miles on a single charge.

The improved range and acceleration will put the vehicles at the high end for Tesla, with the Model S starting at at $134,500 and the Model X starting at $135,500, according to CNBC.

"While the P100D Ludicrous is obviously an expensive vehicle, we want to emphasize that every sale helps pay for the smaller and much more affordable Tesla Model 3 that is in development," an announcement on Tesla's website said. "Without customers willing to buy the expensive Model S and X, we would be unable to fund the smaller, more affordable Model 3 development."

Tesla owners who already have P90D Ludicrous can upgrade to the 100 KwH battery pack for $20,000 and recycle their old battery pack. Those who haven't taken delivery can upgrade for $10,000.

Musk first teased an announcement this morning on Twitter. Shares of Tesla jumped 2 percent this morning as investors awaited the news.