- Tesla revealed its semi truck and new Roadster model on Thursday evening.
- The stock is up more than 4% after the event.
- The company is still working on production issues with its Model 3.
- Watch Tesla’s stock price move in real time.
Tesla shares are up 4.07% to $US325.22 on Friday after the company announced its new semi truck and surprised investors with a new Roadster car.
At the company’s design studio in Hawthorne, California, on Thursday evening, Tesla announced the details of its new all-electric semi truck. The semi, which is set to start production in 2019, is accepting pre-orders for $US5,000 apiece. The truck has a range of 500 miles and can recharge to a range of 400 miles in just 30 minutes with the company’s new Megacharger.
The truck’s four electric motors, one for each of the rear wheels, can accelerate the car to 60 miles per hour in just five seconds with a trailer attached. Regenerative breaking means brake pads never have to be replaced, according to the company.
At the event, CEO Elon Musk surprised investors and journalists by also revealing a new version of the company’s Roadster. The new model is set to begin production in 2020 and will cost $US200,000. For that cost, you get an acceleration to 60 miles per hour in just 1.9 seconds, the fastest ever for a production car. The car can reach 100 miles per hour in just 4.2 seconds, according to Musk.
In addition to being the fastest car in the world, it will also be the longest range car Tesla makes, with an estimated 620-mile range.
All of the announcements, while flashy and exciting, come as Tesla struggles to produce its first mass-marketed vehicle, the Model 3. The company has been slogging through “production hell” as it works to fill its massive backlog of about 450,000 preorders.
Tesla shares are up 51.46% this year.