Elon Musk, the founder, and CEO of Tesla Motors (NASDAQ:TSLA) has revealed on Twitter that the company will unveil a new product on October 17. He has also sparked speculation, by saying that it is going to be something completely “unexpected”.
Earlier, Musk had said that they will reveal new products later in the month on October 28. That would be joint products from the group’s solar energy and electric car companies. It is likely going to be an integrated second generation of the Tesla Powerwall energy storage solution, an EV charger, and a solar roof.
However, this time, Musk says that the October 17 launch is going to be separate from the SolarCity and car unveiling of the 28th. He did not elaborate on what it would be. No further details were disclosed.
But he did reiterate again that the business will not have to raise equity or debt in the fourth quarter. Some observers had commented that the business may have to do this soon to raise capital. That is not going to happen soon after all.
What Could It Be?
There are quite a few possibilities of what Musk might disclose.
For example, it could be a new automobile, such as the Roadster 2.0, which analysts have been expecting for some time. Musk may also disclose new improvements to the autonomous driving features in their existing vehicles. Recently, Tesla (NASDAQ:TSLA) launched their Autopilot 8.0 update. However, Musk has already revealed they are making rapid progress with self-driving technologies that will surprise most people.
Autopilot Under the Scanner
The Tesla Autopilot has been a hot issue for the business. It comes into focus every time there is a crash, such as the one that happened in Germany recently, when one of the vehicles crashed into a bus in the country. There is, however, no verdict yet on what caused this accident. Some suggested that the bus was to be blamed for the accident.
Some analysts have said that it may be a second presentation of their Tesla Model 3, while others feel that might happen later in the year.
There are some other possibilities as well, such as a smaller SUV, a new home charging solution, electric bike, and the Tesla Model Y. Only time can say what the company is going to reveal on that day.
Elon Musk has been busy making plans of people reaching Mars in the middle of the next decade. With this announcement, his focus is now back on the electric cars.