Tesla's Elon Musk says company's semi truck coming in September

  • Tesla's Elon Musk says company's semi truck coming in September

Tesla's Elon Musk says company's semi truck coming in September

It looks as if Musk seems to be determined by the project as he plans to reveal a semi-electric truck this year. At the time, Tesla said its first semi truck will "deliver a substantial reduction in the cost of cargo transport, while increasing safety and making it really fun to operate". "Team has done an fantastic job". Tesla shares are now up 52% in the last six months.

Looking back to Tesla's "Master Plan Part Deux", which was announced in a blog post in July previous year, Tesla specifically mentioned that large-scale cargo trucks were firmly in its sights: "In addition to consumer vehicles, there are two other types of electric vehicles needed: heavy-duty trucks and high passenger-density urban transport".

Tesla, which already builds its mainstay Model S sedan and Model X sport utility vehicle, briefly became the largest US automaker by stock market value early this week when its market valuation surpassed that of General Motors Corp. This visionary tweeted, "Pickup truck unveil in 18 to 24 months". While Tesla Semi will be unveiled later this year, the company needed more time for its Pickup truck. The company is now designing, developing, and manufacturing the highly anticipated model three midmarket sedan, which will be the companies cheapest and most affordable automobile yet.

All in, Musk finished the day with four tweets, leading to $1.2 billion in new market value for Tesla. Musk also teased a convertible version of the Roadster coming soon. The addition of a semitrailer and pickup would boost its lineup. First, it was the mass consumer market, with its Model 3. Musk also said the final unveiling of its Model 3, its most affordable auto, will happen in July.

Tesla's valuation rose after Piper Jaffray analyst Alex Potter on Monday upgraded Tesla's stock from a price target of $223 to $368.

In competition with thousands of GM dealerships, Tesla has only 50 stores in U.S. GM and Ford, both have been slighted by investors even after spending much on research and development.