Forget About Tesla’s Model S Plaid Plus: ‘No Need’ For The EV

Tesla’s (TSLA) Model S Plaid Plus won’t see the light of day as CEO Elon Musk announced on Sunday that he was canceling the top-end version of the EV prior to delivery.

Musk made the announcement in a tweet that said that there was “no need” for the high-end electric sedan as the mainline Model S Plaid car “is just so good.”

He continued on Twitter by saying that the Model S Plaid can deliver “0 to 60mph in under 2 secs. Quickest production car ever made of any kind. Has to be felt to be believed.”

Musk previously promised that the Model S Plaid will deliver 1,100 horsepower and 520 miles of range on a full battery charge, CNBC reported.

He also compared the Model S Plaid to a “spaceship.”

Tesla’s Model S Plaid has been considered the company’s flagship vehicle – a car that has been touted often by the electric automaker.

Musk has said the sedan will arrive on June 10 after previously saying the EV would be ready on June 3.

However, Tesla, like other automakers, has been faced with chip shortages that have caused production bottlenecks.

According to Financial Times, Tesla is in talks to pay upfront for its chip supplies with Taiwan, South Korea, and U.S. chip producers to help ease the issue. The report also said that Tesla was looking at purchasing a chip plant.

While this is the first public announcement from Tesla that the Model S Plaid Plus was being canceled, there were indications that something was amiss from the company previously.

During the last week of May, Tesla quietly removed the ability to make reservations for the Model S Plaid Plus on its website, reports indicated. No reason was given at the time for the removal of the car’s reservation access.

The Model S Plaid model will cost buyers about $72,000 on the low end and about $112,900 with the tri-motor configuration. The vehicle offers a 390-mile range on a full battery charge, 1,020 horsepower, and can hit 60 mph in about two seconds, according to the Tesla website.

Shares of Tesla were trading at $587.03 as of premarket hours on Monday, down $2.02, or 0.34%.