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.
“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 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.
“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.”
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.