Tesla’s new model

SHARES in Tesla jumped more than 4pc after the electric car maker unveiled a souped-up version of its Model 3 sedan.

The high-performance car, which will cost £58,000, will be capable of reaching 60mph in 3.5 seconds. It has a top speed of 155mph and a range of 310 miles, Tesla boss Elon Musk said yesterday.

Tesla designed the Model 3 to be its first mass-market car, with prices starting at about £26,000. The addition of a pricier version could provide a boost to the firm as it battles production issues that have seen it to burn through billions of dollars.