Tesla's fastest model yet aims to outpace rivals

It was all very Tesla...

A flashy, splashy launch for its latest and fastest-ever model on Thursday (June 10) evening.

And the main man himself, was quite literally center stage.

"With Plaid, we've managed to break the two-second barrier, if you will. No production car has ever done 0 to 60 in under two seconds."

Company boss Elon Musk was unveiling the Model S Plaid.

It's an update of the firm's high-end sedan.

Besides speed, it also boasts a range of around 400 miles.

And Musk says the performance isn't just for bragging rights:

"We've got to show that an electric car is the best car. Hands down. You know, so it's got to be clear. It's like, man, this is... Sustainable energy cars can be the fastest cars, can be the safest cars, can be the most kick-ass cars in every way."

There may be another reason for the performance boasts, however.

Because Tesla faces growing competition.

Electric cars like the Porsche Taycan are rivalling its products on speed, range and prestige.

Other industry heavyweights like Mercedes and BMW are ramping up their EV offerings too.

Over the first quarter Tesla delivered just 2,020 of its Model S and X cars.

That was down from nearly 19,000 in the previous three months, hampered by production delays.

Future sales of the luxury models will depend on whether Tesla can stay ahead of its rivals.