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TSLA Stock Up 2% Today, Tesla Launches Model S Plaid

UTC by Steve Muchoki · 3 min read
TSLA Stock Up 2% Today, Tesla Launches Model S Plaid
Photo: Tesla

Considering Plaid’s features are unrivaled, Tesla has increased its price by $10,000 to around $130,000, higher than the preceding Model S, which went for $79,990.

Tesla Inc (NASDAQ: TSLA) has unveiled a new and more sophisticated Model S version to revive interest in its EVs and ward off competition from Porsche, Mercedes-Benz, and Lucid Motors. It will also boost Model S sales, which have been stagnant in recent years. The Model S Plaid, according to Tesla, has the longest range and fastest acceleration of all EVs, making it the highest yielding sedan ever made.

According to Tesla CEO Elon Musk, the Model S flagship was designed with the goal of future self-driven cars. Model S Plaid features include acceleration of 0-60 mph in less than 2 seconds and a 390-mile range battery. There is little change in the body of the car, but the Plaid has faster electric charging, a roomier backseat, and a better entertainment system, which is the “level of a PlayStation 5,” as Musk puts it.

Its advancements are the highest the Model S has received in a decade.

In a delivery event at Tesla’s factory in California, Musk said that “this car crushes,” referring that it was the best in every way possible. Showcasing the vehicle’s superiority, Musk said the Model S Plaid is “faster than any Porsche, safer than any Volvo.” His free-spirited attitude alongside speeches infused with engineering jargon has drawn lots of attention to the Tesla brand, giving it no reason to advertise.

Tesla Stock and Model S Plaid

Before the event, Tesla shares rose 1.9% Thursday to $610.12. In today’s pre-market session, they were at $610.79, up 0.11%. However, the company’s stock had tumbled over 30% since January’s record high of $900.40.

Considering Plaid’s features are unrivaled, Tesla has increased its price by $10,000 to around $130,000, higher than the preceding Model S, which went for $79,990.

Tesla expects to produce 1,000 models weekly starting next quarter. It also intends to roll out upcoming models of Cybertruck and Semi trucks.

Initially, Tesla has developed another variant of the Model S known as the Model S Plaid+. Its driving range was 33% higher than the Model S Plaid and it was powered by state-of-the-art 4680 battery tech. However, Musk tweeted its cancellation, saying “…Plaid is just so good.”

Nevertheless, the Model S Plaid has faced a delay in its launch due to controversies over its U-shaped steering yoke. The feature is meant to increase the car’s autonomy, but it has raised safety concerns.

Tesla has been facing production delays due to global chip shortages alongside other supply chain issues. In Q1, the company delivered only 2,020 Model S and X cars, which was a significant drop from 18,920 in the previous Q4.

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Steve Muchoki

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies. Mythology is my mystery! "You cannot enslave a mind that knows itself. That values itself. That understands itself."

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