Tesla Roadster reveal doesn't thrust share prices
Despite an initial uptick, Tesla’s share price has taken a dive in the wake of the Roadster’s unveiling, with multiple factors likely.
There was little else being talked about on the internet after the Tesla Roadster was revealed late last week, but that hasn’t translated into investor confidence in the brand.
On Friday Australian time, Tesla unveiled the concept for the second-generation Roadster, though the matter in which it did it gained attention.
Performing stunts such as driving up a vertical wall thanks to its road-sucking fan, and then coming back down to earth under the control of its thrusters, the Roadster did what very few vehicles have done before.
The immediate response was positive, with Tesla’s share price on the NASDAQ climbing by 1.7 per cent from US$362.27 an hour prior to its unveiling, to US$368.49 the morning after the covers came off.
However, after reaching that peak, the EV giant’s share prices dropped by 4.3 per cent to US$352.46 at the close of the NASDAQ on October 16.
Tesla CEO Elon Musk first teased the second-generation Roadster in concept form back in 2017, slating it to enter production in 2020, though – like many other Tesla vehicles – it has been hampered by delays.
While the first concepts of the new Roadster showed a design language akin to what we now see on the Model 3 sedan, the latest “flying” – or “falling” – concept is different again, featuring a completely redesigned body.
Taking greater inspiration from the Cybertruck, its angular lines are a reminder of Tesla’s latest brutalist design language, though it contrasts against the smoother edges of the Model Y SUV.
Potential factors dissuading investors from Tesla are the timeline proposals for the Roadster, which have the two-door model entering production in 2028.
Given Musk’s previous claims as to when production vehicles will roll down the line, the announcement was met with some skepticism, as were a number of other key figures.
Tesla claims the Roadster can accelerate from 0-60mph (97km/h) in less than a second, while being able to reach a top speed of more than 600km/h.
Its thrusters, taken from Musk’s SpaceX venture, are also unlikely ever to be approved for road use, though the downforce-generating fan concept has been seen before, such as on the GMA T.50.
Tesla Roadster
Prior to the then-2020 model’s planned introduction, a launch price of US$200,000 (A$286,750) was reported.
With two variants available, the new Roadster will be priced from US$50,000 for the Performance (A$71,700), US$250,000 for the Thrust (A$358,400), which comes with the aforementioned SpaceX Cold-Gas Thrusters.
It’s a long way from the original Roadster, which launched in 2008, based on the chassis of a Lotus Elise.
Jordan Mulach
