ELON MUSK: Tesla will unveil two electric trucks

Tesla Model S New Zealand

The noted that Tesla Semi, as it was referred then, will deliver a substantial reduction in the cost of transport while increasing safety.

Tesla is going to show Tesla 3 buyers what their call will officially look like in July, Elon Musk revealed on Twitter on Thursday. The Tesla CEO did add that the company's engineers have done an "amazing job" on it and that the vehicle is "seriously next level".

If that doesn't get you excited, here are a couple of other things that might: Musk also revealed via replies to other Twitter users that we'll see a Tesla-branded pick up truck revealed sometime in the next 18 to 24 months. Tesla shares were up 3.0 percent to $311.74 near 1720 GMT, for a market capitalization of $51.43 billion, more than $1 billion above GM, a 109-year-old company that sold nearly 120 times as many cars as Tesla last year.

Last year, Musk announced that Tesla plans to build a new pickup truck, an urban bus, and launch a sharing system of self-driving cars.

The Otto division of Uber Technologies Inc. has been developing heavy-duty semi trucks with self-driving capabilities.

On Thursday, CEO Elon Musk divulged loads of information about the next two vehicle categories he plans to conquer and did so in typical fashion, with four concise tweets. The company said in February it was talking to 20 potential customers about its electric truck.

Tesla stock rallied after the Musk tweet, rising as high as 307.39 before closing with a 2.4% gain to 304 in the stock market today. The California-based company is now valued as high as Ford and General Motors, making it one of the most valuable automakers in the US.

"The company faces many risks inherent in the execution of its strategy, including the resolution of production challenges in the face of expanding product lines, the successful integration of SolarCity, and increasing competition from traditional vehicle manufacturers", the five investors wrote.

Mike Jackson, the chief executive of dealership chain AutoNation, told The Wall Street Journal that Tesla was overvalued - and General Motors, by contrast, undervalued - after the former briefly eclipsed GM to become the most valuable US automaker in trading early this week.

"Tesla isn't just another company". Analysts have questioned the ambitious production schedule, noting that the company has a history of delays and coming in under promised production.



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