Deliveries of the updated Model 3 Performance, the sedan's most powerful variant, in China will begin in the third quarter.

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Tesla (NASDAQ: TSLA) has launched the updated Model 3 Performance, the sedan's most powerful variant, in China, with local deliveries set to begin in the third quarter.

The updated Model 3 Performance starts at RMB 335,900 ($46,360), which is RMB 104,000, or 44.85 percent, more expensive than the sedan's entry-level version, according to information on Tesla's China website.

The new variant was launched overnight in the US with a starting price of $52,990.

The Model 3 is currently offered in three variants in China -- the entry-level rear-wheel-drive version, the long-range all-wheel-drive version, and the Model 3 Performance, with the first two starting at RMB 231,900 and RMB 271,900, respectively.

Tesla's Shanghai factory began operations at the end of 2019 and starts deliveries of the locally produced Model 3 in January 2020 and the locally produced Model Y in January 2021.

Tesla was offering the Model 3 in 2020 in three variants -- an entry-level version with single-motor rear-wheel drive, a long-range version with single-motor rear-wheel drive, and a performance version with dual-motor all-wheel drive.

Starting in January 2021, the single-motor rear-wheel-drive long range version was canceled in China, leaving the Model 3 with only the single-motor rear-wheel-drive entry version and the more powerful Model 3 Performance.

On September 1, 2023, Tesla begins pre-sales of the refreshed Model 3, or Model 3 Highland, in China, offering an entry-level rear-wheel drive version, and a long-range all-wheel drive version.

Both variants of the new Model 3 officially began sales in China on October 19, 2023, with deliveries beginning in late October.

The updated Model 3 Performance is capable of sprinting from 0 to 100 kilometers per hour in 3.1 seconds and has a top speed of 261 kilometers per hour. The model has a CLTC range of 623 kilometers.

For comparison, the entry-level Model 3 can accelerate from 0-100 km/h in 6.1 seconds, has a top speed of 200 km/h and a CLTC range of 606 km.

The Model 3 Long Range has a 0-100 km/h acceleration time of 4.4 seconds, a top speed of 200 km/h and a CLTC range of 713 km.

Tesla cuts prices across its entire lineup in China

($1 = RMB 7.2453)