Following months of delay from American electric automobile maker Tesla Inc’s announcement regarding the company’s plans to develop and manufacture an electric and autonomous semi-truck in a couple of years.
The plans of the company to disclose the plans were first announced back in April this year and was confirmed through a tweet from Tesla chief executive officer Elon Musk regarding an unveiling event and test ride last month that also stated that it would be scheduled tentatively by October in Hawthorne. In April, Musk stated that it would release the semi-truck plans during the month of September before being pushed back for another month.
Tesla shares reacted positively to the news of the company confirming its plans to produce a semi-truck with investors stating positive feedback regarding the plans of the company.
According to analysts, this offers Tesla a brighter growth outlook with the semi-truck offering a bright potential for the sales of the company. Tesla shares were up by as much as $359 per share following reports of the semi-truck being produced by the company in a couple of years.
Tesla chief executive officer Elon Musk has been dropping hints regarding its plans to produce heavy trucks which can compete directly with heavy diesel-powered vehicles. Shortly following these reports, speculations about how a Tesla truck could change the game have surfaced with some stating that a fully charged electric vehicle can run for over 1,000 miles.
At the beginning of the week, Musk tweeted again that a webcast will be aired live this Thursday evening where the Semi Truck will be unveiled. Musk also added comments that stated “will blow your mind out of your skull” adding hype to the market’s anticipation of the new vehicle reveal.
As of the now, Tesla’s semi truck is expected to be installed with an Autopilot system and capabilities along with it being powered fully by electricity as a part of the company’s overall initiative to reduce pollution and fight global warming.
Tesla shares have recently declined due to investor concerns regarding the company not being able to meet its own production and delivery targets for its mass-market Model 3 vehicle. However, it recorded an intraday high of $306.48 which is 1.08% higher on news of the company acquiring Perbix Machine Co Inc which is an automation equipment manufacturer.