Tesla Motors

Elon Musk’s efforts to keep pushing the envelope further when it comes to electric cars continued this week.

On Tuesday, Tesla announced its newest battery, which can send its Model S from 0 to 60 mph in just 2.5 seconds.

As a result, the Model S is now the “third fastest accelerating production car ever produced,” according to Tesla’s press release. Tesla says the LaFerrari and the Porsche 918 – limited edition cars that can’t be purchased new – are faster.

The battery also increases the distance the Model S can travel on a charge to just about 315 miles. According to Tesla, it is the first electric car “to go beyond 300 miles and the longest range production electric vehicle by far.”

[Read Where Are Tesla's Free Superchargers?]

The battery will be added to the Model S and the Model X.

This does juice up the cost a bit for Tesla owners; it costs $20,000 to upgrade the battery pack in existing P90D Ludicrous models. However, Tesla says that money is being put toward building the Model 3, “a much more affordable Tesla” that’s being developed. It will be only an additional $10,000 for customers who have ordered a P90D that hasn’t yet shipped.

Currently, the Model S runs anywhere from $70,000 to $109,500. The Model X can cost up to $115,500. Tesla says the Model 3 will start at about $35,000.