This paper considers a new model of the dynamic behavior of conductive materials under laser irradiation, taking into account the electron gas pressure. It is proposed to describe and explain new dynamic thermoelastic effects in conductors using a two-component model, according to which a continuous medium consists of two interpenetrating continua, i.e., in every point of this medium there are particles of the both continua that interact with each other. The proposed model can be used to consider an electron gas consisting not only of free but also of bound electrons. The behavior of free electrons is described by laws for ideal metals, while bound electrons obey more complex laws characterized by trapping to localized levels and transition from one level to another, i.e., jump diffusion and hopping conductivity. It has been shown for the first time that, in contrast to the well-known classical model of thermoelasticity, an important role in the expression for the electron gas pressure is played, on the one hand, by the temperature difference between the lattice and the electron gas and, on the other, by the possible change in the concentration of free electrons caused by the transition of localized electrons to the free state in accordance with the known Mott’s physical phenomenon. The duration of acoustic pulses in the conductor lattice essentially depends both on the laser irradiation time and on the duration of the temperature difference between the electron gas and the lattice. The maximum acoustic pulse duration is achieved at a certain concentration of localized electrons. The obtained simulation results were compared with known experiments.