High-performance electric vehicles (EVs) are resetting our understanding of speed. Acceleration once reserved for six-figure supercars is now possible in family sedans priced much lower. But 0-60 mph in 2.9 seconds for just $7,000 more than the average new car buyer pays? That’s a little ridiculous.

Tesla updated its Model 3 sedan early this year, but held back the Performance model until yesterday. The company revealed the latest Model 3 Performance just ahead of a call disclosing disappointing first-quarter earnings, leading some to call it a distraction.

It worked, at least a little.

The Model 3 performance starts at $54,630 after $1,650 in mandatory fees — $1,390 for delivery and a separate $250 “order fee.” That’s not far off the $47,218 cost of the average new car last month.

500+ hp, 2.9 Seconds to 60 MPH

For that price, you get “more than 500 horsepower” and a 0-60 mph time of 2.9 seconds, the company says. The speed boost comes thanks to improved electric motors – one per axle for all-wheel drive (AWD). They offer “+22% continuous power, +32% peak power, and +16% peak torque delivery,” Tesla says.

Pirelli P Zero 4 Performance tires likely help, too, though some drivers won’t want those in winter.

The Performance gets a suspension system not found on other Model 3s. It uses adaptive damping to adjust to road conditions. Pre-set modes include Standard, Sport, and Track.

Unique Look Inside and Out

Tesla builds different front and rear fascia for the Performance model and adds a front splitter and rear diffuser to help it cleave the air cleanly. Tesla claims a 5% lower drag and a 36% reduction in lift from the previous-generation Model 3 Performance.

Inside, new sport seats offer “enhanced bolstering and a deeper, more engaging seating position.” They also look cool – the brand’s “ludicrous” logo, like the view of stars whizzing by a spaceship in a sci-fi movie, is integrated directly into the upholstery below the headrests.

The Model 3 performance is already available for order.