Image courtesy of Tesla
Wall Street analysts have often compared Tesla’s (TSLA) ability to capture consumers’ attention and captivate their minds to Apple (AAPL). On Thursday during the unveiling of its all-electric driverless semi truck, Tesla took a page out of Apple’s, in particular Steve Jobs’ playbook, announcing “one more thing.”
But before we get to that, Elon Musk, Tesla’s charismatic CEO, put a lot of pressure on himself and his company last Sunday by referring to the semi truck as a "beast" and "unreal," and proclaiming the sight of the vehicle "will blow your mind clear out of your skull and into an alternate dimension.” It’s tough to argue that Musk not only lived up to those expectations on Thursday, he in fact might have even understated what Street should have expected.
At the event in Hawthorne, Calif. on Thursday Musk demoed the truck, which is on tap for production in 2019, showing features that include an average driving range of 500 miles per charge, which was twice the expected range Wall Street expected. That range is significant, Musk explained, adding that 80% of truck deliveries currently on the road today drive 250 miles or less.
In terms of speed, not only can the truck can travel from zero to 60 miles per hour in 5 seconds, Musk gushed at the fact that it can maintain 60 miles per hour up a 5% grade, which is 20 miles per hour faster than today’s diesel trucks. What’s more, the truck will also carry a maximum payload of 80,000 pounds, which is the maximum load for U.S. highways. And not only does he promise the truck to have faster acceleration, it will feature better uphill performance.
Given its low center of gravity, the trucks will be the safest ever to hit the road, Musk noted. Adding that the truck’s design, along with technology designed to prevent jackknifes, will significantly reduce the risk of rollovers. “Your worst nightmare is gone with this truck,” Musk said. All told, when taking these feature into account, Musk pointed out that it will cost companies 20% less per mile to operate, he called it “economic suicide” for to continue using diesel trucks.
“You’re earning 50% more per mile than in a diesel truck,” he said.
If the excitement surrounding the truck was not enough, Musk surprised everyone with “one more thing,” unveiling a new Roadster, which he described as the “fastest production car ever made.” It’s likely the car stole some of the oomph from the truck, pushing Tesla stock up more than 4% in Friday’s pre-market session.
See video here: https://twitter.com/Tesla/status/931409569640677376/video/1
As if on cue, the car, which can go from zero to 60 miles per hour in under two seconds and has a range of almost 621.4 miles, emerged from the back of one of the trucks. “The point of this is just to give a hardcore smackdown to gasoline cars,” Musk said during the event. “Driving a gasoline sports car is going to feel like a steam engine with a side of quiche.”
As for the “one more thing”: It seems Musk was intent on giving a smackdown of his own to the company’s doubters. He did that, and then some, on Thursday.
At the time of publication, the author held shares in Tesla.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
