SAN FRANCISCO (CBS SF) -- Tesla announced its new Model S 70D goes on sale immediately Wednesday.

While this new Tesla replaces the $70,000 starter Model S, its price is not exactly entry-level. In fact it costs more.

The cost of the new Model S 70D starts at about $75,000. And while pricier, it does deliver more features than the previous base model.

The 'D' stands for dual-motor all-wheel-drive, and it has a 70 KW-Hour battery good for a 240 mile driving range. Unlike the older base Model S, the S 70D comes standard with navigation, a blind spot monitor, and automatic keyless access. It can also recharge at Tesla's network of Superchargers, which was a $2000 option of the Model S.

After federal tax credits, the new 70D will cost about $67,000, putting it in the same luxury price level as the Mercedes E-class or the BMW 5-Series.

Tesla is taking the older Model S out of it's lineup of new vehicles.

The long-awaited entry-level Tesla 3 with price tag of $34,000 will be available in about two years.