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By Alyssa Newcomb

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.

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.