Tesla's semi-truck finally has a launch date.
Tesla will unveil an electric powered truck in September, tech mogul Elon Musk has revealed. In his tweet, Musk said that his team "has done an wonderful job", calling the effort "seriously next level". The spat comes as Tesla. rushes to launch its mass-market Model 3 auto later this year.
Previously, Musk stated that heavy-duty trucks and similar vehicles running on electric power have are needed and this could potentially be a huge market for the company. "Both are in the early stages of development at Tesla and should be ready for unveiling next year", read the declaration of intention for both models issued last summer during Tesla's conference for Master Plan Part Deux.
Denning noted that even though just one of the seven members on Tesla's board isn't directly connected to Musk may not matter given the stock's performance. However, Tesla may run into issues with the new models because it does not now have facilities to manufacture trucks or semis.
While Musk was teasing info without specifics, as an extra added bonus he mentioned the next Roadster will be a convertible. GM remained the most valuable company at midafternoon Thursday: GM's market capitalization was $51.14 billion; Tesla's was $48.41 billion. Tesla's stock was $304.77 a share in Thursday afternoon trading on Wall Street, valuing the company at $49.2 billion. The company is known for sleek, pricey electric sedans. They also believe the maker of the Model S and Model X should create a barrier between the board and Musk, who owns more than 20 percent of the company. It comes as Tesla's stock has soared in recent months, pushing its valuation past that of Ford Motor Co.to a level rivaling the market capitalization of General Motors Co., the largest USA auto maker.
Such a valuation goes against the company's recent performance: in 2016, Tesla recorded a net loss of over $675m, while both GM and Ford recorded multi-billion dollar profits.