Tesla CEO Elon Musk announced today via Twitter that the Tesla semi-truck would be unveiled in September. In his tweet, Musk said that his team "has done an fantastic job", calling the effort "seriously next level".
On Thursday, Musk said in response to a Twitter question that the pickup truck would be unveiled "in 18 to 24 months" and that the new roadster in the works would be a convertible.
The relative value of Tesla and General Motors Co.is headed for a correction, as the latter is "clearly" undervalued, Mike Jackson, the chief executive officer of AutoNation Inc., said Tuesday.
It found that, on average, a used Model S will take 87 days to sell, about 5% quicker than the other models. This is not liked by Musk, who advised the group to invest in Ford.
Jackson credited Musk for building a "cult-like following" - more than 300,000 people pre-ordered the Model 3 -but he said that selling cheaper vehicles wouldn't alleviate its cost issues. Earlier this week, Tesla briefly became the largest US automaker by stock market value, surpassing General Motors Corp. "Their governance is awesome", he tweeted.More news: Runner-up at Augusta following pair of late bogeys
Musk tweeted that he had already said Tesla would add new independent members to the board. When it comes to the whole massive-market-cap-thing, however, we have been reminded that Tesla sells a remarkably small number of vehicles, relative to the traditional US Big Three: GM, Ford, and Fiat Chrysler Automobiles.
The letter was also signed by the California State Teachers' Retirement System (CalSTRS), Connecticut Retirement Plans and Trust Funds and Hermes Equity Ownership Services, which combined with CtW have about $721 billion in assets under management. "Given the current context, we believe that, now more than ever, having a sound governance foundation will aid in guiding the company as it wrestles with these challenges".
Tesla Inc (NASDAQ:TSLA) shares may have surged more than 22% over the past twelve months to become the most valuable vehicle company in the United States, but it's nowhere near the best performing automaker in that time period.
Musk is also the chairman and largest shareholder of SolarCity Corp SCTY.O.
Tesla Motors Inc (NASDAQ:TSLA) shares went down -3.85% to $296.84 on Wednesday.