Tesla Adding New Products To Its Lineup

Jon Howard
April 19, 2017

Tesla Motors founder and CEO Elon Musk had a message Wednesday for disconcerted investors calling for a more independent board of directors - go buy shares in Ford. The noted that Tesla Semi, as it was referred then, will deliver a substantial reduction in the cost of transport while increasing safety.

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk has responded to critics and investors of the company's stock.

"Team has done an wonderful job", Musk said in the tweet. In his tweet, Musk said the development team had done an "amazing" job and that the truck would be "seriously next level".

As he was tweeting Thursday, Musk also confirmed that the company would do its final unveiling of the Model 3 in July.

No information was revealed with regards to whether the semi-truck will be self driving or not.

A Tesla representative would not offer details on the plans Musk tweeted, and said the tweets would be the company's only statement.

Tesla's stock stood at $304.77 a share, up $7.93 or 2.7%, in Thursday afternoon trading on Wall Street, giving the firm a market value of $49.2 billion.

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In a statement, the owner of the restaurant, George Reed, said "words can not express the depths of our sorrow". They were not staying at the hotel, according to authorities.

"Directors should be held to a higher standard of independence given the conflicts of interest that permeate this board", the letter to Tesla director Antonio Gracias, which was obtained by Bloomberg, said.

Most of the half a million vehicles that Tesla is targeting to produce will be the company's first mass market auto, the Model 3 sedan, whose launch date has not yet been made public. And by doing so, the company went past General Motors in terms of market valuation for a small time to end up becoming the most valuable United States automobile company.

Apart from the commercial vehicles that were announced, Musk disclosed another exciting fact about the Tesla Roadster. The company is known for sleek, pricey electric sedans.

According to sources, Tesla rose 3.26 percent to a record high of US$312.39 on April 10.

One thing is for sure: gambling on Tesla stock is not for the faint-hearted considering the stock has shown strong rallies and big declines alike in the last few years.

The appreciation in Tesla's share price come even as the electric vehicle maker encounters hurdles in its ambitious efforts to increase production levels.

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