It's a great time to be a kid if you like tiny, expensive, electric vehicles. Last week, a company called Actev debuted the Arrow Kart, an extremely smart go-kart with a top speed of 12 miles per hour. This week, Tesla's getting into the mix with a tiny Model S made by Radio Flyer, the 99-year-old company known for its bright red wagons and tricycles.

The $500 "Model S for Kids," as it's being called, is basically a scale model of Tesla's popular electric sedan. It's made for children ages three to eight and has a weight capacity of 81 pounds, and tops out at 6 miles per hour. (The speed can be limited to just 3 miles per hour with the flip of a switch, much like how Power Wheels operate.) The Model S for Kids charges in just three hours, and also utilizes swappable batteries (something Tesla has had trouble with on the real Model S).

Customizable and accessory-ready, just like a real Tesla

True to Tesla form, there are also some bells, whistles, and customizable options. It comes with working headlights, a front trunk (or "frunk," if you want to sound like you're describing a piece of Ikea furniture), and a sound system with an auxiliary cord input. The cars can be outfitted in "authentic Tesla Model S colors" like Deep Blue Metallic, Midnight Silver Metallic, or Red Multi-Coat. Extras like personalized license plates, spare (or more powerful) batteries, and a Tesla-branded car cover are all available, too.

Even with those features, the Model S for Kids is a much less exciting toy compared to the Arrow, which is smarter, more stylish, and comes with some pretty powerful safety features like collision avoidance and geofencing. It's also twice as fast, which means Tesla finally made a Model S that won't win every drag race.