The New Tesla Model 3 Performance Is a $54,630 Bargain

• There's a new Tesla Model 3 Performance.
• It costs $54,630, has more than 500 horsepower, and offers 290 miles of range.
• But there's a lot more to this Tesla than just going faster.

We knew Performance wasn't a one-off trim level for Tesla because it's already been applied to both the Model S and the Model X. Now, there's a new Tesla Model 3 Performance, and it already looks like a stellar bargain. It's based on the recently refreshed Model 3, a car we've come to enjoy as one of Tesla's best efforts to date.

The new Model 3 Performance looks significantly different from the standard Model 3, a nice change from Tesla's past performance offerings (which always looked identical save for some different wheels). It uses the Model 3 Long Range, and its bigger battery, as a baseline, but the Performance ups the price to $54,630, cuts range to a maximum of 296 miles (down from 341 miles), and offers quite a bit more poke. Here's everything that's new.

Model 3 Performance: There's more than just power

The new Model 3 Performance will have a dual-motor setup good for 510 horsepower, says Tesla. It will likely still pull from the same 85-kWh battery pack that underpins the current Model 3, mostly due to packaging reasons. The Model 3 Performance's 0-60 mph time is quoted at 2.9 seconds, but in classic Tesla fashion, that number is the best possible time because it's been calculated with rollout subtracted. Top speed is set at 163 mph.

But Tesla didn't just juice up the electric motors and call it a day. The Model 3 Performance also comes fitted with adaptive suspension (the system isn't the same air suspension found in the Model X) to help maximize agility and handling without sacrificing ride comfort. As if that wasn't enough, Tesla has also said the springs, dampers, bushings, and anti-roll bars have all been designed to deliver a more capable chassis.

Tesla seems to have taken slowing down just as seriously as speeding up, and the Model 3 Performance gets bigger brake discs, calipers and high-performance brake pads for better deceleration. Those new brakes sit behind new 20-inch forged wheels, which should help reduce unsprung mass — a positive for performance in every scenario.

There's also a new track mode that sets that suspension and powertrain to a specific setting and lets you customize the handling balance, stability control, and regenerative braking to help suit your style when you're on track. It also appears that there are some new gauges that monitor brake and motor temperatures, as well as a G-meter in the track mode pages.

Inside there are only a few changes, the most notable of which are the brand-new performance front seats. They look heavily bolstered and are both heated and cooled. There's also some carbon-fiber trim on the dashboard to complement the carbon rear lip spoiler out back.

All in all this might be Tesla's most complete performance package to date, but we'll be sure to judge that more completely once we get behind the wheel. Order books are open now, so if you're interested you might want to get a spot at the front of the line as soon as possible.