$500 Tesla Model S for kids coming in May

This Tesla will only cost you $500

The Tesla Model S has gotten a kid-friendly makeover.

Radio Flyer, which makes the famous little red wagons and tricycles, announced on its website that it will soon begin shipping mini Tesla Model S cars for kids for $499 each.

Pre-orders are now open and the cars will ship in May.

The one-seater cars were created in collaboration with Tesla (TSLA) and are for kids between the ages of three to eight. The cars come in three colors: red, blue and "midnight silver metallic." They boast special lithium ion batteries that are supposed to charge faster and last longer than any other battery-powered kiddy car.

"This baby Model S really is quite fun," tweeted Tesla's CEO Elon Musk.

Related: This is why Elon Musk is having a lousy year

The cars include working headlights, a "spacious interior" and a trunk in the front of the car. It can reach a top speed of six miles per hour.

radio flyer models kids
Radio Flyer collaborated with Tesla on this new mini Model S car for kids.

Buyers also have the option to purchase premium batteries, special license plates and mini indoor car covers.

Related: Chevy unveils new all-electric 2017 Bolt

For adults, Tesla currently sells just two models: The Model S and the new Model X.

The Tesla Model S starts around $75,000, though a federal tax credit brings the price down by about 10%.

The company will also begin taking reservations and deposits for the Model 3 on March 31. This is Tesla's "cheaper" electric car that is expected to cost in the neighborhood of $35,000. Federal and state tax credits may knock $7,500 to $10,000 off the purchase price in the U.S.

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