Elon Musk's firm Tesla goes cap in hand to customers

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Tesla Inc. wasted no time taking reservations for the revived Roadster sports vehicle Elon Musk just unveiled, charging customers as much as $250,000. Musk said clients can put down a $5,000 store for the semi now and generation will start in 2019. Meanwhile, the company posted a record quarterly loss of $619 million in its most recent quarter. Trucks account for almost a quarter of transportation-related greenhouse gas emissions in the US, according to government statistics.

The truck will have Tesla's Autopilot framework, which can keep up a saved speed and back off naturally according to the movement of traffic.

But the semi also piles on the chaos at Palo Alto, California-based company.

At least four companies have publicly confirmed having placed preorders for Tesla's heavy-duty electric truck. Redefining mobility is not just about replacing cars and trucks with new models, but looking at the entire infrastructure. Arrow Financial Corp now owns 9,338 shares of the electric vehicle producer's stock valued at $3,186,000 after buying an additional 1,127 shares in the last quarter.

The Tesla Roadster
The Tesla Roadster

Musk, too, is being pulled in many different directions.

"He's got so much on his plate right now".

Despite such concerns, Tesla shares were up about 1.4 per cent at mid-day. "It's not like any truck that you've ever driven", Musk said.

Tesla is venturing into an uncertain market. About 260,000 Class-8 trucks are produced in North America annually, and that market has a value of about $28.6 billion, said Don Ake, vice president of commercial vehicles at FTR, an industry economics research firm.

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But most of that growth is expected to be for smaller, medium-duty haulers like garbage trucks or delivery vans.

Megachargers, a new high-speed DC charging solution, will add about 400 miles in 30 minutes and can be installed at origin or destination points and along heavily trafficked routes, enabling recharging during loading, unloading, and the flawless opportunity for drivers to grab coffee and a doughnut during breaks. "As such, expect the topic of the electrification of (cargo trucks) and Tesla's disruption of that segment to step up". From now until manufacturing starts for the new Tesla Roadster, the company will have to address the issues that have resulted in the Tesla Model 3 production delay.

Another concern is that Tesla is bleeding cash as it invests in new vehicles like the Model 3, a more affordable electric sedan. Falling battery costs also will help make electric trucks more appealing compared to diesels. Tesla is working on a pickup truck and a lower-cost SUV and negotiating a new factory in China. It faces stiff competition from long-trusted brands like Daimler AG, which unveiled its own semi prototype last month. "The fastest production vehicle ever made, period".

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