Listen to this article
Tesla shares revved higher on Thursday after Elon Musk tweeted that the automaker would unveil its semi truck in September.
The Palo Alto-based company, which recently overtook General Motors as the most valuable auto company in the US, saw its shares perk up nearly 2 per cent to $302.68 after Mr Musk tweeted: “Tesla semi truck unveil set for September. Team has done an amazing job. Seriously next level.”
Mr Musk first announced Tesla would be expanding into trucks back in July as part two of his masterplan for the company. At the time he said, “in addition to consumer vehicles, there are two other types of electric vehicle needed: heavy-duty trucks and high passenger-density urban transport” and that both of those were in development and would be unveiled this year.
The news comes even as investors anticipate the arrival of Tesla’s mass market Model 3 vehicle in July. The electric automaker has, however, previously been hamstrung by production constraints and its falcon-winged Model 3 vehicle launched after a 2-year delay in 2015.