Published: Sat, April 15, 2017
Electronics | By Lorenzo Hawkins

Tesla Moves On To Semi Trucks After Luxury Super Cars

Tesla Moves On To Semi Trucks After Luxury Super Cars

It looks as if Musk seems to be determined by the project as he plans to reveal a semi-electric truck this year. Shares of the company jumped almost 3 percent after the announcement.

"We believe the Tesla Semi will deliver a substantial reduction in the cost of cargo transport while increasing safety and making it really fun to operate", wrote Musk in the company's master plan. Musk has over eight million followers on the platform, over six times more than Tesla's official Twitter account.

"Seriously next level." Musk indicated that the semi-truck would likely have some autonomous-driving features, like those now included in Tesla's passenger cars.

Along with an electric, autonomous commercial vehicle dubbed the "Tesla Semi", the tycoon and futurist also proposed a fully autonomous, electric compact bus for urban routes along with electric pickup truck and SUV models. Upon asking when the Pickup would come - whether this year or the next - he replied that the pickup truck would come in the next 18-24 months. The company is now designing, developing, and manufacturing the highly anticipated model three midmarket sedan, which will be the companies cheapest and most affordable automobile yet. He also said that its next roadster would be a convertible.

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But that will need some time, and Musk has already said that drivers would be needed in trucks for a few years.

As part of that same master plan, Musk promised a "new kind of pickup truck". Tesla showed off a very early version of the Model 3 last year before announcing that production was upward of a year away.

Tesla's valuation rose after Piper Jaffray analyst Alex Potter on Monday upgraded Tesla's stock from a price target of $223 to $368. It seems Tesla is really gearing up to compete with Ford, which the electric vehicle firm recently beat in terms of market value.

Shares of Tesla (TSLA - Free Report) saw a nice mid-afternoon pop on Thursday, eventually closing out the day more than 2.4% higher.

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