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Tesla Inc TSLA 1.89%has begun delivering its Model S Plaid electric vehicle, as per CEO Elon Musk.

What Happened: Musk made the announcement at adelivery event that was live-streamed on Thursday night.

As per the Tesla website, the 1,020 horsepower vehicle is on sale for $129,990, excluding any potential savings.

The vehicle was shown off at the delivery event Thursday by Musk and Tesla’s Senior Design Executive Franz von Holzhausen.

Musk took to Twitter to talk about the four-door sedan. He called Tesla’s engineering “awesome” in a tweet and said he “loved the yoke” steering wheel of the vehicle.

Praising the vehicle, Musksaidon Twitter that the Plaid S was the “most amount of fun on 4 wheels!” — adding, “Pure joy on tap whenever u want.”

The Tesla CEO announced that deliveries have commenced with the first 25 vehicles to be delivered immediately. The volume will reach several hundred units per week “soon,” and 1000 cars per week the next quarter, Musk said at the event.

Why It Matters: Musk touted the car’s “crazy performance” during Thursday’s delivery event and claimed that the vehicle had a 390-mile range. On Plaid’s acceleration capabilities, Musk said, “No production car has done 0-60 under 2 seconds.”

The top speed of the vehicle is 200 mph and it can charge 187 miles in 15 minutes.

Musk also said Tesla will do "waypoints" owing to high demand, which would allow users to enter multiple destinations in a single trip within Tesla's navigation system.

Calling the vehicle a “good looking sports car,” Musk said that Tesla was able to achieve the lowest drag coefficient of any production car ever made.

Also shown Thursday were the car’s interiors which feature ventilated front seats, more room for the backseat, and invisible air conditioning.

There are chargers in the back and front seats for phones and other devices and the vehicle features a landscape touchscreen for video playback and gaming.

On gaming, Musk touted a “PS5-level performance” and said users can play state of the art games at 60 frames per second.

Tesla hascanceled the Plus modelof the Plaid range. Musk said earlier this week that the latest version is “just so good.”

Price Action: On Thursday, Tesla shares closed nearly 1.9% higher at $610.12 and fell 0.35% in the after-hours session.