Elon Musk: Demand is high for Tesla’s newest car (TSLA)

Tesla CEO Elon Musk said demand is so high for cars with the new 100-kilowatt-hour battery option that he is receiving production updates seven days a week for it, he told analysts during the company’s third-quarter earnings call Wednesday.

Musk introduced the new 100 kWh battery option in August for Model S and Model X cars with Ludicrous mode. The new battery option extends the range of the Model S to 315 miles, making it the first electric car on the market to exceed 300 miles of range. The Model X with the 100 kWh battery option has a range of 289 miles.

But the battery upgrade doesn’t come cheap.

The Model S P100D with Ludicrous mode starts at $134,500, and the Model X P100D with Ludicrous mode starts at $135,500. Tesla drivers who own a Model S or Model X P90D Ludicrous can upgrade to the 100 kilowatt-hour packs for $20,000.

But price hasn’t deterred people from ordering the P100D cars.

“I receive daily updates on 100 kWh production because the demand is high and we need to satisfy that demand,” he said.

Musk said his three main priorities include ramping up 100 kWh production, overseeing Model 3 production, and advancing Tesla Autopilot and the newly introduced Fully Self-Driving Capability.

Musk did not disclose how many orders there have been for the Tesla Model S P100D or Model X P100D.

A Tesla spokesperson declined to provide figures, stating “We don’t break sales down by variant or market. Unfortunately, we can’t expand beyond Elon’s comments and what’s in our shareholder letter.”