Tesla is launching the new Model 3 Performance today. Elon Musk: It’s faster than a Porsche 911

The new Tesla Model 3 accelerates from 0-60 miles per hour (96.5 kilometers per hour) in 2.9 seconds. It has 510 horsepower, at a torque of 741 Nm and a top speed of 262 km/h — Chassis tuned for performance but keeping the cabin quiet and comfortable, the company writes on X. Elon Musk says the car surpasses the most successful Porsche model, 911.

In other technical data given by the manufacturer, the new model has +22% continuous power, +32% peak power, +16% maximum torque compared to the previous Model 3 Performance. All this with a lower overall energy consumption.

Linked to the train, it has 20-inch forged and non-aligned wheels with Pirelli P Zero 4 tires. Better cornering traction, reducing traction control interventions. It also has improved comfort, reduced rolling resistance and increased range.

Improved Track Mode Track V3 mode now integrates engine controls, suspension controls, undercarriage cooling and our Vehicle Dynamics Controller (VDC) under one unified system.

This gives you a more predictable, stable and consistent experience in different track environments.

Elon Musk commented on his X account, a company he also owns, that the new Model 3 is faster than the Porsche 911.

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New Adaptive Damping System Adjusts to driver inputs and road conditions in real time to optimize comfort and handling while improving driving comfort.

It’s controlled via internal software, which means it will continue to improve through future software updates over the air.

Tesla cuts prices in major markets due to falling sales

Tesla has recently cut prices in several key markets, including the US, China and Germany, as the electric car flagship faces falling sales, the BBC wrote. It would be because of competition for lower prices, intensified by Chinese firms.

In a post on social media platform X, Musk stated that “Tesla’s prices must change frequently to match production with demand.” In China, the firm has cut the starting price of the reconfigured Model 3 in China by 14,000 yuan (£1,562) to 231,900 yuan. The prices of the Model Y, Model X and Model S vehicles in the US were cut by $2,000 (£1,616) on Friday.

There were also price cuts in many other countries in Europe, the Middle East and Africa, according to Reuters.