Shares of Tesla (TSLA - Free Report) climbed on Monday morning after CEO Elon Musk announced that the company would unveil its first ever electric semi-truck later this week.
Musk made it known via Twitter —where he has amassed nearly 15 million followers—that Tesla will officially show off its new all-electric semi-truck to an audience in Hawthorne, California on Thursday, Nov. 16.
Tesla Semi Truck unveil to be webcast live on Thursday at 8pm! This will blow your mind clear out of your skull and into an alternate dimension. Just need to find my portal gun ...
— Elon Musk (@elonmusk) November 12, 2017
The joke-filled tweet is only the latest in a series of posts related to Tesla’s first foray into commercial vehicles. Musk first announced on Twitter in September that the “Tesla Semi truck unveil & test ride tentatively scheduled for Oct 26th in Hawthorne.” He then continued, “worth seeing this beast in person. It's unreal.”
The initial announcement helped lift Tesla’s stock price as investors were energized by the idea of another revenue stream and possible long-term shake-up of the massive trucking industry.
However, Tesla’s CEO took to Twitter to let everyone know that the company changed the official semi-truck reveal date to mid-November, citing humanitarian reasons.
Tesla Semi unveil now Nov 16. Diverting resources to fix Model 3 bottlenecks & increase battery production for Puerto Rico & other affected areas.
— Elon Musk (@elonmusk) October 6, 2017
The electric vehicle giant’s semi will reportedly have an initial range of 200 to 300 miles before needing to be recharged. Current diesel trucks can travel 1,000 miles or more on a single tank of gas. This likely means Tesla’s electric trucks will be confined to more localized routes upon their launch.
Demand for the Tesla semi-trucks will be high, according to Morgan Stanley (MS - Free Report) analyst Ravi Shanker. For now, however, details surrounding how much Tesla will charge for the new electric semis is unclear. It is also uncertain when the trucks will go into production or when they will be available for purchase.
Initial estimates for the semi truck seem to vary. Cowen analyst Jeffery Osborne doesn’t expect production of the electric semis to start until at least 2021, while analysts at Morgan Stanley note that they project semi-truck sales will start in 2020.
Nonetheless, shares of Tesla popped on Monday morning after Musk’s Sunday tweet began to make the rounds. The positive news might help investors look past the fact that production of the company’s mass-market Model 3 sedan has failed to meet expectations, which helped Tesla remain highly unprofitable in its third-quarter.
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Shares of Tesla (TSLA - Free Report) climbed on Monday morning after CEO Elon Musk announced that the company would unveil its first ever electric semi-truck later this week.
Musk made it known via Twitter —where he has amassed nearly 15 million followers—that Tesla will officially show off its new all-electric semi-truck to an audience in Hawthorne, California on Thursday, Nov. 16.
The joke-filled tweet is only the latest in a series of posts related to Tesla’s first foray into commercial vehicles. Musk first announced on Twitter in September that the “Tesla Semi truck unveil & test ride tentatively scheduled for Oct 26th in Hawthorne.” He then continued, “worth seeing this beast in person. It's unreal.”
The initial announcement helped lift Tesla’s stock price as investors were energized by the idea of another revenue stream and possible long-term shake-up of the massive trucking industry.
However, Tesla’s CEO took to Twitter to let everyone know that the company changed the official semi-truck reveal date to mid-November, citing humanitarian reasons.
The electric vehicle giant’s semi will reportedly have an initial range of 200 to 300 miles before needing to be recharged. Current diesel trucks can travel 1,000 miles or more on a single tank of gas. This likely means Tesla’s electric trucks will be confined to more localized routes upon their launch.
Demand for the Tesla semi-trucks will be high, according to Morgan Stanley (MS - Free Report) analyst Ravi Shanker. For now, however, details surrounding how much Tesla will charge for the new electric semis is unclear. It is also uncertain when the trucks will go into production or when they will be available for purchase.
Initial estimates for the semi truck seem to vary. Cowen analyst Jeffery Osborne doesn’t expect production of the electric semis to start until at least 2021, while analysts at Morgan Stanley note that they project semi-truck sales will start in 2020.
Nonetheless, shares of Tesla popped on Monday morning after Musk’s Sunday tweet began to make the rounds. The positive news might help investors look past the fact that production of the company’s mass-market Model 3 sedan has failed to meet expectations, which helped Tesla remain highly unprofitable in its third-quarter.
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think. See This Ticker Free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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