Tesla unveiled a major redesign of its Model S electric sedan on Wednesday in its fourth-quarter earnings report for 2020
The company shared images with its new interior and exterior of the car that will be launched later this year. It also introduced its “Plaid” offering, a three-engine propulsion system that would allow the car to go from zero to 60 miles per hour in less than 2 seconds. The new Model S starts at $ 79,990. Its Plaid version starts at $ 119,990.
CEO Elon Musk said on Wednesday, in a winning call, that the Model S Plaid was in production now and will be delivered starting in February.
“It’s really a great improvement over the previous version,” Musk added.
At the end of 2020, Tesla closed production lines for the S and Model X at its plant in Fremont, to prepare to produce updated versions of the cars, a sedan and an SUV with doors with falcon wings. The company said Wednesday’s production would resume in the first quarter and “return to full capacity over time.”
“In recent weeks, we have upgraded our Fremont plant to launch the new S and Model X models. These changes include a new powertrain (battery modules, battery packs, drive units), a completely new interior, exterior upgrades and more. improvements, “the company said in its latest revenue update released Wednesday.
Deliveries of the Tesla S and X fell in 2020 to just 18,966 in the fourth quarter. Tesla does not divide vehicle sales by individual model type.
The production of the two models decreased by 10% compared to last year to 16,097 in the fourth quarter, according to the report.
Front interior Tesla Model S
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Shares fell more than 3 percent in extended transactions after the company reported earnings in Q4 2020. The company reported earnings per share of 80 cents on revenue of $ 10.74 billion. Analysts had expected EPS of $ 1.03 on revenue of $ 10.4 billion.
The company also offered some production guidelines for the future, writing “On a multi-year horizon, we expect to achieve an average annual increase of 50% in vehicle deliveries.” The company expects faster delivery growth than in 2021.
– Lora Kolodny from CNBC contributed to this report.
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