Connect with us

Tesla News: Elon Musk Makes ‘Unexpected Product’ Announcement

Tesla News: Elon Musk Makes ‘Unexpected Product’ Announcement
Elon Musk, Tesla Factory, Fremont (CA, USA) Maurizio Pesce / Flickr CC BY 2.0

Business

Tesla News: Elon Musk Makes ‘Unexpected Product’ Announcement

Tesla founder and CEO Elon Musk surprised everyone with an announcement that two new products will be unveiled by the company soon enough.

October seems poised to become an exciting month for the electric car maker.

According to Musk, one product will be revealed on the 17th, which is “unexpected by most.” Speculations are now being raised after Musk’s announcement. Some wonder if the “unexpected” product refers to Tesla coming out with its very own electric motorcycle.

Meanwhile, others are wondering if there already is a part two for the soon-to-be-delivered Model 3 car. Other speculations also point to the new product being a charger. One even asked if Tesla is rolling out a charger that can charge cars in just five minutes.

Also ReadTesla Gets A Downgrade, Stock Tumbles Down

On the other hand, Musk says another product is expected to be revealed by Tesla/Solar City on the 28th. Based on a report from Reuters, this can refer to a solar roof that comes with an integrated energy storage battery.

Musk’s cryptic announcement comes at a time when stockholders are doubting the company’s ability to manage its capital well and even meet its target number of deliveries for the remainder of the year.

As previously reported by Morning News USA, Tesla stock took a tumble after Goldman Sachs had decided to downgrade the company from a buy to a neutral. Part of the reason for Tesla’s downgraded rating is said to be due to the company’s bold decision to allocate its capital on investments such as SolarCity.

With regard to SolarCity, Musk also recently said that Tesla does not need to acquire further debt or even raise equity for the solar energy’s acquisition. In fact, he said, it “Won’t be necessary for either.” His statement, however, contradicts a filing done by Tesla recently.

Meanwhile, it seems Musk’s tweets did little to quell any uncertainty in the stock market. Tesla shares are still down by around 2.2 percent to $196.61.

Also Read: Aston Martin CEO Says Tesla Is Old News

If you want more Tesla news, subscribe to our newsletter or follow us on Twitter and Facebook.

 

Comments

More in Business

Good News

MNU EXCLUSIVES

To Top