Tesla Inc. (NASDAQ:TSLA) has officially canceled the Model S Plaid+, the most expensive variant of the electric vehicle maker’s flagship Model S sedan.
What Happened: Tesla CEO Elon Musk said on Twitter that the Model S Plaid+ is canceled as the new Plaid version is “just so good” and is the “quickest production car” ever made of any kind.
The Model S Plaid is a performance variant of Tesla's Model S five-door EV sedan launched in 2012. The vehicle will feature a 390-mile range battery, with 1,020 horsepower and acceleration from zero to 60 miles per hour in two seconds.
In late May, Musk said that the delivery of the Model S Plaid is being delayed by one week to June 10, stating that the vehicle needs "one more week of tweak."
See Also: Elon Musk Says Tesla EV Price Hikes Happening Due To Supply Chain Issues
Why It Matters: Tesla had introduced the Model S Plaid + as the new top-performance version when it first unveiled an upgraded version of the existing Model S sedan in January.
The Palo Alto-based company had claimed that the Plaid+ would give 520 miles of range on a fully charged battery and accelerate from 0 to 60 mph in under 1.99 seconds.
In March, Tesla raised the price of the Plaid+ by $10,000 to $149,990 and said it has delayed delivery of the vehicle by a few months to mid-2022. However, the company removed the option to order the Plaid + variant from its website in May.
Like other automakers, Tesla is grappling with supply chain issues, including an ongoing global chip shortage. The company had halted production at its Fremont, California, plant in February for two days because of what Musk called “parts shortages.”
Price Action: Tesla shares closed almost 4.6% higher in Friday’s trading at $599.05.
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