Tesla has set the Model S Plaid at a starting price of RMB 999,990, ($154,600), down RMB 174,910 ($27,044) from the previous price, the Tesla China website showed.

Tesla's US website shows the Model S Plaid starting at $119,999, a $20,000 cut.

Tesla CEO Elon Musk said on January 28 that the new Model S Plaid is in production and deliveries will begin next month, while Model X Plaid deliveries will be a little later.

The interior of the Model S Plaid has been upgraded to a minimalist interior design similar to the Model 3, with a large floating touch screen in the center.

The Model S Plaid is equipped with three electric motors with a maximum power of more than 1,100 horsepower and a top speed of 320km/h, Tesla said, adding that it has a 0-100km/h acceleration time of fewer than 2.1 seconds, setting the fastest record for a production model.

The Model S Plaid will be equipped with a power cell capacity of more than 100kWh and an estimated range of 628km.