Tesla has taken the wraps off its latest electric vehicle, the 2024 Model 3 Performance, boasting a more powerful drivetrain, quicker acceleration, and improved handling. The new model is expected to be a bright spot in what is anticipated to be a disappointing earnings report from the company.

The 2024 Model 3 Performance features a specially tuned chassis and a 0-60 mph acceleration time of just 2.9 seconds, a significant improvement over the previous model. However, Tesla has opted not to use its “Plaid” performance badge for the Model 3, instead sticking with the “Performance” moniker.

Under the hood, the Model 3 Performance boasts 510 horsepower and 741 Nm of torque, up from the 470 horsepower of the 2019 model. The top speed has also been increased to 163 mph. However, it’s worth noting that Tesla’s 0-60 mph time includes rollout time, a practice the company has used before to make its vehicles appear faster.

The new model features the fourth generation of Tesla’s performance drive unit, which the company says offers improvements in continuous power (22%), peak power (32%), and peak torque (16%), all with lower energy consumption. The Model 3 Performance will be equipped with forged and staggered 20″ wheels and Pirelli P Zero 4 tires, which Tesla claims will provide better traction, improved comfort, and increased range.

Tesla has also updated its Track Mode software feature, which now integrates motor controls, suspension controls, powertrain cooling, and the company’s Vehicle Dynamics Controller under a single, unified system. The new adaptive damping system adjusts to driver and road inputs in real time to improve handling and comfort.

On the exterior, Tesla has made aerodynamic improvements to the Model 3 Performance, reducing drag by 5%, lift by 36%, and improving front-to-rear lift balance by 55%. The new model will also feature new sport seats, which are expected to be similar to the ones found in the Model S Plaid.

The 2024 Model 3 Performance is estimated to have a range of 296 miles on a full charge, less than the refreshed 2024 Model 3’s estimated top range of 341 miles. However, as with all Tesla range estimates, it’s best to take this with a grain of salt.

The 2024 Model 3 Performance is a significant update to Tesla’s top-selling electric sedan, offering improved performance, handling, and aerodynamics. While the company’s earnings report may not be cause for celebration, the new Model 3 Performance is sure to excite Tesla fans and enthusiasts alike.

Start at $52,990 (excluding taxes and fees).