The market likes Tesla as a long haul play.
Tesla (TSLA) shares were up in premarket trading Friday, after unveiling the company's new semi-truck and surprising the market with a new Roadster sports car.
Tesla shares were up 1.76%, indicated to open at $318, after closing at $312.50 on Thursday. Shares have been under pressure over the last three months, losing 13.89%, as manufacturing issues have slowed deliveries pf the company's Model 3 electric vehicle.
CEO Elon Musk on Thursday unveiled a new electric powered semi tractor-trailer truck with a range of 500 miles. Musk said the trucks, scheduled to come into production in 2019, will accelerate from 0-60 mph with a full load of 80,000 pounds in 20 seconds. He also claimed the vehicles have a lower drag coefficient than a Bugatti Chiron supercar. No pricing data was offered, but Tesla is asking for $5,000 to reserve one of the vehicles.
Meijer, a grocery store in Michigan, has already reserved four trucks, Bloomberg reported.
In a surprise, Musk also announced a new roadster sports car with a range of 620 miles. The car will accelerate from 0-60 mph in 1.9 seconds. "This is the base model," Musk said. Each of the first 1,000 units of the car, called the Founders Series, can be reserved with a $250,000 payment. Assuming they are fully subscribed, that will bring in $250 million to Tesla.
The regular roadster, not expected until 2020, can be held with a more modest $45,000 payment.
"The debuts of the Tesla Semi and the surprise new roadster exemplify everything Tesla does right. Very few brands have the ability to emotionally connect with consumers quite like Tesla," said Edmunds executive director of industry analysis Jessica Caldwell.
The high-end roadster is far from the first time Elon Musk made a show stopping announcement:
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