Tesla Announces New Model S 70D; Website Offline

Shares of

rose more than three percent during Wednesday's pre-market trading session after the company announced a new $75,000 car called the Tesla Model S 70D. The D refers to the car's dual motor, a standard option on the new model. The car also has an all-wheel-drive, delivering 514 horsepower with a 0-60 acceleration time of 5.2 seconds. It will also come equipped with a 70 KW-Hour battery and a 240 mile driving range. Buyers of the new model will be eligible to claim a federal tax credit that will lower the price tag to $67,500. As of 8:07 AM on Wednesday,

Tesla's website

indicated it was "temporarily offline for maintenance." By 8:15 AM, the site returned online with a

detailing the new vehicle.