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Timeline For Tesla Semi Truck, Electric Pickup Laid Out By Musk, Shares Jump


04/14/2017


Timeline For Tesla Semi Truck, Electric Pickup Laid Out By Musk, Shares Jump
With Elon Musk sketching out a timeline for the arrival of a semi truck, pickup and sports car, Tesla Inc’s plans to pad its lineup of electric vehicles are taking shape.
 
The chief executive officer wrote in a series of tweets Thursday that Tesla will show an electric semi truck in September and a pickup in 18 to 24 months after the final unveiling of the Model 3 sedan in July. The Roadster, it’s very first model, as a convertible would also be b brought back by the Palo Alto, California-based company. 
 
Most notably in last summer’s “Master plan, Part Deux”, Musk had telegraphed Tesla’s future products several times before. With Musk laying out a vision to “cover the major forms of terrestrial transport”, the manifesto went a step further, with the Model 3 already aimed at catapulting Tesla from niche player to higher-volume automaker.
 
 “Team has done an amazing job,” Musk tweeted on Thursday, referring to the semi truck. “Seriously next level.”
 
Musk may have been alluding to the semi’s self-driving capabilities, analysts quickly speculated. With the highest-level systems being capable of all driving-related tasks, a five-level system for measuring autonomous proficiency has been adopted by the auto industry.
 
“It’s at least a semi-autonomous truck,” Ben Kallo, an analyst at Robert W. Baird & Co., said in an interview. “The important thing is that while everyone is focused on the Model 3, there are a lot of other projects going on at Tesla.”
 
There were no comments made by Tesla beyond Musk’s tweets.
 
Tesla has forecast as much as $2.5 billion in capital expenditures during the first half of 2017 after burning through $970 million in the fourth quarter. Through the process of stock and debt offering last month, the company raised about $1.4 billion.
 
As the products are ways Tesla can extend into new markets and leverage prior investments, Musk;s tweets were termed as potentially exciting for investors by James Albertine, an analyst at Consumer Edge Research.
 
“We continue to believe Tesla would have to come back to the markets to raise capital in the future, but we think the concept of scalability tomorrow helps to defend the rate of cash burn today,” Albertine wrote in a report Thursday.
 
Meanwhile, after the spreading of the news, there was a 3 percent jump in the shares of the company.
 
after Musk's tweets, Tesla's stock was up $8.14, or 2.74 percent, at $304.98.
 
the Silicon Valley company briefly became the largest U.S. car maker by market capitalization, beating out General Motors Co. earlier this week and shares of Tesla have surged 41 percent to record highs this year.
 
Since they are based on long-term expectations for growth, proponents believe Tesla's stock rally and high valuation are justified.
 
The company risks being overtaken by GM, Ford Motor Co and other deep-pocketed manufacturers ramping up their own electric-vehicle offerings and hence Tesla's growth targets are unrealistic, say skeptics and short sellers.
 
(Source:www.cnbc.com & www.reuters.com) 


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