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Elon Musk Says Tesla's New 'Ludicrous' Mode Is 'Faster Than Falling'

(CBS SF) -- Tesla Motors revealed upgrades for its Model S luxury electric car line on Friday, including a high-performance mode called "Ludicrous."

In a conference call, Musk says the upgrade from "Insane" mode will cost $10,000 for new buyers of the Model S, whose base price is $70,000. It will allow the car to go 0-to-60 mph in 2.8 seconds which Musk noted is "faster than falling."

Musk also described an upgrade to its lithium-ion battery from 85 to 90 kWH to provide up 15 miles of added range for Model S owners.

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.

TM and © Copyright 2015 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2015 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten. The Associated Press contributed to this report.

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