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Elon Musk Cancels Tesla Model S . 500 Mile Range

Tesla is still planning a “plaid” version of the car. In a tweet on Sunday, Tesla’s CEO said Plaid+ was canceled because “Not necessarily because Plaid is very good.”

But Tesla has mentioned that the Plaid+ can run more than 500 miles on a single charge, while the standard Plaid is advertised as capable of 390 miles. More than two in Tesla’s top-of-the-line models. And Tesla says both the Plaid and Plaid+ will be able to accelerate from 0 to 60 in about 2 seconds, making them the fastest production cars ever.

The Plaid+ is set to be $30,000 more expensive than the standard Plaid, at $1
50,000 less. All Model S and high-end Model X SUVs accounted for just 11% of Tesla sales last year, with the Model 3 sedan. The lower-priced Model Y SUV has become a mainstay of the company, but the Model S and Model X are likely to have better margins than the Model 3 and Model Y, making them key models for Tesla’s lineup.
The delay in the new versions of the Model S and Model X, and the drop in the Model S’s top-of-the-line model, may point to some problems at Tesla.

“This is not the news Wall Street wants to hear,” said Daniel Ives, a technology analyst at Wedbush Securities. but still feel like ‘Dog eats homework.'”

Tesla shares were slightly lower in futures trading on Monday.

The artist replicated the interior of the new Model S with a distinctive steering wheel.
Typically, the design of a new vehicle takes production offline for a few weeks. But Tesla didn’t produce a Model S sedan or a Model X SUV during the first quarter of the year. And now it’s only launching a redesigned version of the car.

The launch of the new Model S, which features a rectangular open steering wheel instead of the traditional round steering wheel, was scheduled for June 3, but that has been postponed to June 10 since Musk announced last week that Last minute tweaks are needed.

The entire automotive industry experienced a shortage of computer chips that forced factories to close. And automakers must shift the chip supply available to their best-selling cars, Musk told investors in April that the computer chip shortage was a “big problem.”
Last week, Musk tweeted that higher raw material costs had driven up the Model 3 and Model Y prices, but that the top-end Model S and X weren’t.

“At a high level, Plaid+ was a niche need from the start. But the chip shortage has forced Musk & Co. to make difficult manufacturing choices,” Ives said. “The past few months have changed dramatically for Tesla. And this will increase the overall power.”

Tesla Model S upgrade comes with super fast Plaid mode and 520 miles range.

Musk did not specify which raw material prices caused the problem. The price of lithium, the main material used in EV batteries, has more than doubled in the marketplace. Cobalt, another key material for batteries, also rose sharply, although it fell from its peak earlier this year.

How much Tesla paid for those raw materials under supplier contracts is unknown. The same is true for the metals used in other parts of the car, such as steel, aluminum and copper, as evidenced by higher public market prices.

The unusual “plaid” name comes from “Spaceballs,” a 1987 Star Wars parody from director Mel Brooks in “Star Wars,” when a spaceship enters hyperspace. The stars appear to have become streaks of light. In Spaceballs, spaceships will speed up and the stars will turn into a grid.

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