Tesla (TSLA) is set to unveil its "unreal" semi-trailer truck in late October, Elon Musk said.
Musk tweeted late Wednesday night that the much-anticipated truck may be unveiled and test driven on Oct. 26 in Hawthrone. "Worth seeing this beast in person. It's unreal," the Tesla CEO tweeted.
Tesla Semi truck unveil & test ride tentatively scheduled for Oct 26th in Hawthorne. Worth seeing this beast in person. It's unreal.— Elon Musk (@elonmusk) September 13, 2017
Tesla shares were down 0.14% in premarket trading Thursday, after closing at $366.23 on Wednesday.
Musk teased the electric tractor-trailer at the 2017 TED Conference in April with a rendering that shows a mysterious, glowing vehicle. Musk introduced the idea of creating all-electric heavy-duty trucks and urban transport vehicles in a July 2016 blog post. At the time, Musk said the Tesla Semi would reduce the cost of cargo transport and increase safety, while being "really fun to operate."
In April, Musk said the semi truck would be revealed in September.
Tesla Semi truck unveil set for September. Team has done an amazing job. Seriously next level.— Elon Musk (@elonmusk) April 13, 2017
The vehicle could be a huge disruptor in the trucking industry. In a note to clients late on Wednesday, Sept. 6, Morgan Stanley analyst Ravi Shanker said the Tesla Semi could potentially "set off separation" between leaders and laggards among carriers and shippers, truck original equipment manufacturers and suppliers.
Shanker predicted that Tesla will price the Semi at about $100,000 (about 70% cheaper to operate than a regular truck, he noted) and start taking orders for the truck at the NACV event, with the vehicle shipping by 2020.
"We believe this could set off competition for intelligent trucks in the industry," Shanker explained. "If the order books fill up quickly, any carrier that holds back placing its order could potentially have to wait several years to get its hands on a Tesla truck -- years during which its competitors could be running with up to a ~70% cost advantage."
He added, "A rush by truck carriers to place Tesla truck orders and other OEMs to launch similar trucks could also be viewed by the market/investors as a key catalyst to the intelligent trucking thesis becoming 'real.'"
The Semi release could mean big things for the trucking industry and will undoubtedly benefit Tesla -- it's likely to be a business worth about $5.1 billion.
- Annie Palmer contributed to this report.
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