Tesla says it's creating 'Ludicrous Mode' of Model S sedan that goes zero-to-60 faster

Associated Press

Tesla Motors says it's adding a new "Ludicrous Mode" to high-performance versions of its Model S electric car.

CEO Elon Musk says the upgrade will cost $10,000 for new buyers of the Model S, whose base price is $70,000. It will allow the car to go from zero to 60 miles per hour in 2.8 seconds. Tesla had referred to a previous package as "Insane Mode."

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Musk also says Tesla will upgrade the battery pack of the Model S to improve its range.

Earlier this month Tesla said its deliveries grew 52 percent to more than 11,000 in the second quarter. Shares of the Palo Alto, California-based company rose $5.35, or 2 percent, to $272.02 in afternoon trading.