During Tesla Inc's (NASDAQ: TSLA) battery day event, CEO Elon Musk revealed the new Model S Plaid.It's a powerful fully electric vehicle with 520-plus miles of range and a zero-to-60 mph time of under 2 seconds that starts at $139,990. Beyond that, few details were shared.Now Musk has said on Twitter that the Plaid Model S will be using Tesla's new 4680 battery cell technology. These cells are more energy-dense, allow faster charging, better power and performance and a lower cost. The cells will also be packed into the vehicle in a new way, using Tesla's structural pack approach. This allows the cells to be built into the structure of the car, saving space and increasing safety. The Plaid Model S is expected to be released at the end of 2021.Benzinga's Take: While some may have assumed this news was true, it's nice to see the confirmation. Tesla is working on several types of batteries.For comparison, the current Model S has a range of 402 miles and a zero-to-60 time of 2.3 seconds. Increasing the range by well over 100 miles with this change is impressive. Photo from Tesla's battery and investor day Sept. 22. See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Tesla Delivers Nearly 140,000 Vehicles In Record Quarter * LAPD Warns Tesla Owners That Rims, Tires Popular With Thieves(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
