Tesla Introduces The Single Motor 70 kWh Model S From $70,000

Today, Tesla CEO Elon Musk held a quick press conference to announced some major changes to the Model S sedan.

Look For P90Ds On The Road Soon!

The most significant was the arrival of a 90 kWh battery pack upgrade option ($3,000) for new customers, to better suit the Model S lineup, given the recent update of the base model to 70 kWh over the older 60 kWh version.

As for the base model, a single motor 70 kWh S sedan can now be had - and for $5,000 cheaper than the 70D, starting from $70,000.

And finally, "Ludicrous Mode" is now a real thing - for $10,000 more; which means that the top-of-the line performance Teslas can now zip to 60 mph in 2.8 seconds. The new mode also brings up the quarter mile in 10.9 seconds.

Unlike earlier performance upgrades that have been done over-the-air, there is actually new hardware needed for this upgrade. This means a $10,000 outlay for new buyers, $5,000 for current P85D owners (at least for the next 6 months in consideration of their costumer's recent, and already somewhat outdated, purchase).

How Much Is 2.8 Seconds Slips To 60 MPH, And 1.1 Gs Worth To You?

Mr. Musk says that the new 90 kWh battery upgrade will give an additional 15 miles of range; with the new 90D netting 300 miles of range (if driven at around 65 mph).

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Update: There has been some reporting confusion in the media surrounding whether or not current 85 kWh Model S owners can also get their battery upgraded to a 90 kWh pack, and what that cost might be. As we understood it, no such option was being offered, so we reached out to Tesla for clarification and was informed via a spokesperson that "You cannot retrofit the battery pack. Only retrofit is available to P85D customers is the ludicrous mode."

Which basically means that existing 85 kWh Model S sedans can have their packs replaced with a new 90 kWh pack featuring the new improved chemistry, but not the old unit itself upgraded for the $3,000 fee and then retained (we assume a residual trade-in value would be placed on and given for the original pack).

Hence the statement from CEO Musk stating that he "wouldn't recommend doing so (upgrading to 90 kWh) unless your usage is on the edge of current range." While adding, "On average, we expect to increase pack capacity by roughly 5% per year. Better to wait until you have more time on your existing pack and there is a larger accumulated pack energy difference."

The Tesla "90" Series Of Cars Will Be Available For Delivery Starting In Late August

Of course Tesla tweeted out a little brag on the new high performance P90D Model S from $118,000:

Ludicrous Mode Arrives? Next Up Is Obviously "Plaid"

...which apparently irked someone in legal and/or another car company, as the tweet was re-worded a couple times before landing on this configuration:

Tesla Model S Acceleration Tweet V3.0

Tesla also got in on the Space Balls move joke about "going to plaid", but they did it in such a way as to promote an all-new Roadster available in 4 years.

"There is of course one speed faster than ludicrous, but that is reserved for the next generation Roadster in 4 years: maximum plaid."

The "Fine Print" On 90 kWh Battery

During the press conference there was not much news around the upcoming arrival of the Model X other the re-confirming its deliveries to start in 2 months time.

The Tesla CEO did note that "Ludicrous Mode" would also be available on the performance X, and should give the utility vehicle a zero to 60 time of about 3.2 to 3.3 seconds.

For the Model 3, the latest update is that it is still off a bit more than 2 years.

Mr. Musk was asked what impact he thought these new options would have on sales going forward on the Model S:

"I have no idea, we are just trying to make awesome cars."

As for market reaction, shares dipped on the initial announcement, perhaps reflecting the markets desire to see 'bigger' news, but they quickly recovers and are now mostly unchanged. (Real-time quote can be found here)

Update: Full Tesla PR Blast Below