Finance, Markets

Tesla stepping up in Electric vehicles market by announcing mini-Truck in near future

Tesla Inc. (NASDAQ:TSLA) is set to unveil its first electric articulated lorry in September this year. And the electric pick-up truck would be in the market within 18-24 months.

Tesla Inc(NASDAQ:TSLA) ‘s Co-founder and CEO Elon Musk tweeted the news on Thursday, saying that his team has done an exceptional job and that the vehicle is “seriously next level.”

Tesla electric semi-truck plans have been in the news for a while now: The vehicle was first cited back in July of 2016, when Musk revealed part 2 of his magical “master plan” for his electric-car company. The Tesla Semi, as Musk called it, is planned to help cut the cost of cargo transportation, and improve safety for drivers.

Meanwhile Tesla Inc. (NASDAQ:TSLA) is not the lone player in the space of electric drive-trains for transport vehicles; Nikola also announced its One vehicle last year, too, though that’s a hybrid that also uses compressed natural gas as well as its electric battery.

According to reports, Tesla’s major aim is to “expand to cover the major forms of terrestrial transport,” and as per Musk’s “master plan,” and the transport truck is main part of that aim. It addresses commercial cargo transportation, which stands for a major portion of the commercial transport market; Musk has also teased that the firm will ultimately reveal a shuttle bus-type of vehicle that will cover the other major portion of that market.

Furthermore Tesla ( TSLA) Model 3, a more economical car in contrast with Tesla’s at present offers, has 400,000 pre-orders – enormously more than the company can manufacture in a year. It is due to go into production later this year.

Nevertheless despites these obstacle, investors seem in no doubt that Mr. Musk will meet up his vows.

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