Tesla has canceled the production of its longest-range Model S Plaid Plus, CEO Elon Musk said in a tweet on Sunday.
Musk said in his tweets that Plaid Plus was canceled as there was no need for the model as “Plaid is just so good.”
Model S Plaid Plus was planned as a higher tier model to Model S Plaid.
It was planned to have max output of 1100hp and maximum traveling distance of 520 miles.
Tesla’s share prices have fallen recently to US$590, after hitting highs of US$900 in January.
The drop in share prices have been attributed to intense competition in electric cars, Tesla’s sales slowing down in China, and the recent global chip shortage, by analysts.
According to EV Volumes, Tesla sold 499,550 units of electric cars last year, its highest to date. In 2019, the US car maker had sold 377,500 units.