02/17/2016 10:10 EST

Tesla Introduces Model S Toy Car For (Really) Rich Kids

Just guess how much it costs. We dare you.

If you're looking to drop several hundred dollars on a present for your kid, you're in luck.

Radio Flyer, the company that's known for selling little red wagons, announced this week that it's teaming up with luxury electric car maker Tesla Motors to create a kid-sized version of their Model S car.

The toy car, which is releasing in May and is now available for pre-order, will be sold for the not-so-modest price of $499 USD.

Geared toward children aged three to eight, the car comes loaded with working headlights, a front trunk, forward and reverse features, and a sound system. It's available in three colours: midnight silver metallic, deep blue metallic and red multi-coast.

But that's not all -- if you have extra cash left over, you can also purchase an extra rechargeable battery, indoor car cover, a parking sign, and a custom license plate.

The company boasts the toy car is the first mobile toy to have lithium ion technology, offering the "best performance available" on a ride-on for kids. It also boasts the car's speed, which can be set to three or six m.p.h by parents.

Tesla currently sells its real Model S car in Canada starting at $101,900.

This luxury kids' car isn't the only one on the market. Mercedes Benz also offers a selection of children's cars, while Ford sells a mini-Mustang for $420.

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