Tesla’s Latest Announcement about their “Tesla Semi” Causes Another Surge in their Market Value

Published: Wed Apr 26 2017

Tesla has had a long, strange trip to the top. Recently, the American electric car company, was briefly valued at $51.5 billion which put it above GM’s $50.2 billion. Even though Tesla has yet to turn a profit, it has become one of the most valuable car companies in the United States. Co-founder Elon Musk’s latest announcement about their "Tesla Semi" has caused even more excitement surrounding the company and has added even more value to the ever-growing company.

This month was a record breaking month for the company. Tesla shares put the company’s value at $51.5 billion but by Tuesday’s market close, GM was again on top with Tesla nipping close at their heels. However, Tesla still beat out Ford, which was valued $44.6 billion. Just the fact that Tesla’s worth is in the same league as the original American car manufacturing companies is a huge feat considering that they have been unprofitable and they are struggling to deliver the Model 3. The surge in stock prices directly correlates to the confidence of the investors and to Tesla’s ambitious line up of soon to be unveiled electric vehicles.

Some industry pundits believe that the confidence is misplaced. However Musk is not worried and has full confidence that Tesla will live up to their surging market value. The latest announcement about the electric Semi has the world excited once again about electric cars. The Tesla Semi is the latest in a long line of electric automobiles that Tesla is planning on unveiling in the next few years.

Musk, who is known for utilizing Twitter to make big announcements, posted a tweet stating that, "Tesla Semi truck unveil set for September. Team has done an amazing job. Seriously next level." It is no secret that Musk has a dream to move the world over to strictly utilizing environmentally friendly vehicles for transportation. Tesla has been making great strides in the electric car market and now they are looking to tackle the semi-truck market.

Last year, Musk stated in Tesla’s second quarters earnings report that the company was working on unveiling the Tesla Semi as well as a Model X based Tesla Minibus during 2017. No word yet on the unveiling of the Minibus but Tesla has put Jerome Guille in charge of the automaker’s all-electric heavy truck program and he and his team have been working diligently on getting these vehicles on the market as quickly as possible.

Guillen has all the qualifications required to lead an electric truck program. He had previously been in charge of Daimler’s Cascadia semi truck program and he was also more recently the program director of Tesla’s Model S. He took a break from Tesla in 2015 and was brought back in 2016 to strictly work on the Tesla Semi.

Musk has given no other details about the Tesla Semi. He has left details up to speculation as the industry waits to see what Tesla unveils in September 2017. Tesla is not without competition in this arena. Another startup, Nikola Motor, is using batteries with a hydrogen and natural gas range extender to power their semi truck and Wrightspeed builds hybrid battery heavy-duty trucks.

About Tesla: Tesla’s mission is to accelerate the world’s transition to sustainable energy. Since our founding in 2003, Tesla has broken new barriers in developing high-performance automobiles that are not only the world’s best and highest-selling pure electric vehicles—with long range and absolutely no tailpipe emissions—but also the safest, highest-rated cars on the road in the world. Beyond the flagship Model S sedan as well as the falcon-winged door Model X sports utility vehicle, we plan on launching our new Model 3 sedan later this year at a base price of $35,000 that we expect to truly propel electric vehicles into the mainstream.

In addition, with the opening of the Gigafactory and the acquisition of SolarCity, Tesla now offers a full suite of energy products that incorporates solar, storage, and grid services. As the world’s only fully integrated sustainable energy company, Tesla is at the vanguard of the world’s inevitable shift towards a sustainable energy platform.
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