Market Overview

What We Know About Tesla's Roadster 2.0

Share:
What We Know About Tesla's Roadster 2.0
Related TSLA
Freight.Tech25: In Spite Of Rocky Year, Tesla Shocks The World And Places Third
Citron Research: Nio Is 'Tesla Deja Vu'
Dow Jones Futures: From Apple To Tesla, Five Reasons To Be In Cash Right Now (Investor's Business Daily)

Tesla Inc (NASDAQ: TSLA) revealed Thursday yet another project in its ever-expanding portfolio.

Behind the scenes, even as it worked out Model 3 production kinks, directed resources to Puerto Rican solar projects and delayed its Semi reveal, Tesla had secretly revived the Roadster, its first electric vehicle.

What You Need To Know: With a top speed above 250 miles per hour, the Roadster base model goes zero-to-60 in 1.9 seconds and zero-to-100 in 4.2 seconds. One charge of its 200 kilowatt-per-hour battery sustains a 630-mile trek.

“The point of doing this is just to give a hardcore smackdown to gasoline cars,” CEO Elon Musk said. “Driving a gasoline sports car is going to feel like a steam engine with a side of quiche.”

The four-seater includes three motors, torque steering and all-wheel drive. Musk plans to begin production in 2019 for 2020 sales at $200,000 per unit, except for the first 1,000 limited editions priced at $250,000.

What Analysts Think: The new Roadster could capture 25 percent of the exotic car market and bring in nearly $1 billion per year, according to Loup Ventures managing partner Gene Munster. But that’s not necessarily the point.

“Musk’s comment that the point of building the Roadster was to ‘give a hardcore smackdown to gasoline cars’ highlights the fact that Roadster is more about making a statement to the industry around the performance of EVs [...] and less about making money,” Munster wrote in a Friday note.

Others on the Street interpreted the unveiling with marked concern.

“We can't help worrying that Tesla may be taking on too much organizationally – which could distract it from ensuring Model 3's commercial success, which we believe is the critical driver of the company's fortunes,” Bernstein analyst Toni Sacconaghi Jr. wrote in a Friday note.

Munster anticipates potential delays leading to a 2021 rollout.

The Stock’s Reaction: Tesla’s stock had been on the rise all week as Musk teased the new Semi. At time of publication, shares were up 3 percent at $321.71.

Related Links:

Merrill Lynch: Tesla Semi Announcement Could Be A Reason To Buy Allison Transmission

Why Tesla's China Situation May Be More Favorable Than Previously Imagined

Image credit: Tesla Twitter

Latest Ratings for TSLA

DateFirmActionFromTo
Oct 2018Canaccord GenuityMaintainsHoldHold
Oct 2018JMP SecuritiesInitiates Coverage OnMarket Outperform
Oct 2018MacquarieInitiates Coverage OnOutperform

View More Analyst Ratings for TSLA
View the Latest Analyst Ratings

Posted-In: Bernstein Elon Musk Gene MunsterAnalyst Color News Top Stories Analyst Ratings Tech Best of Benzinga

 

Related Articles (TSLA)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
XECImperial CapitalDowngrades35.0
SSTIImperial CapitalUpgrades49.0
AVDLoop CapitalUpgrades29.0
FCREYDeutsche BankUpgrades0.0
OECUBSUpgrades34.0
View the Latest Analytics Ratings
Don't Miss Out!
Join Our Newsletter
Subscribe to:
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
Your weekly roundup of hot topics in the exciting world of fintech.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

8 Biggest Price Target Changes For Friday

Why MoviePass Could Hit 1 Million Users This Year And What It Means For Helios & Matheson