Tesla on Wednesday showed a major redesign of its electric sedan, the Model S, in its earnings report for the fourth quarter of 2020.
The company shared images of its new car interior and exterior that will be launched later this year. He also unveiled his “Plaid” offering, a thruster engine 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 Wednesday in a profit call that the Model S Plaid was in production now and will be delivered starting in February.
“It’s really a huge improvement over the previous version,” Musk added.
In late 2020, Tesla shut down the Model S and Model X production lines at its Fremont plant to prepare to produce upgraded versions of the cars, a sedan and an SUV with hawk-wing doors. The company said Wednesday’s production will resume in the first quarter and “return to full capacity over time.”
“Over the past few weeks, we’ve been upgrading our Fremont factory to launch the new S and Model X models. These changes include a new powertrain (battery modules, batteries, drive units), a completely new interior, exterior upgrades and other improvements, ”the company said in its latest earnings update released Wednesday.
Deliveries of Tesla’s S and X models declined in 2020 to just 18,966 in the fourth quarter. Tesla does not separate vehicle sales by individual model type.
According to the report, production of both models fell 10% year-on-year to 16,097 in the fourth quarter.
Front interior Tesla Model S
Tesla
Shares fell more than 3% in extended trading after the company reported earnings for the fourth quarter of 2020. The company reported earnings per share of $ 80 cents on revenue of $ 10.74 billion. Analysts forecast an EPS of $ 1.03 for revenue of $ 10.4 billion.
The company also gave some production guidelines in the future, writing “On a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries.” The company expects faster delivery growth than in 2021.
– CNBC’s Lora Kolodny contributed to this report.
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