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Musk Delays Tesla’s ‘Unexpected’ Product Unveiling

Tesla factory

Elon Musk tweeted on Sunday that Tesla (NASDAQ:TSLA) would be postponing a product announcement initially planned for today until Wednesday, to allow for a few more days of refinement.

Last week, Musk said on Twitter that Tesla would unveil on October 17 a product “unexpected by most”, without giving further details, sparking market and media speculation as to just what the company might be up to.

According to Business Insider, Tesla may announce Autopilot 2.0, the second-generation of its semi-autonomous driving system; or features for its Model 3; or a compact SUV; or a Tesla bus or semi-truck. it could also be none of the above.

If it’s the semi-autonomous driving system, Tesla may have to be more careful in advertising it as a true autopilot, with Germany asking Tesla to refrain from using the term “Autopilot” for its driver assistance system, Reuters reported on Sunday.

Tech news website Recode guesses that Tesla may be revealing a new version of its energy storage solutions, Powerwall and Powerpack.

No matter what the product announcement might be, Tesla and Musk are now entering a news-heavy month ahead, which begins this Wednesday with the “unexpected” product unveiling.

Tesla will also be reporting its third-quarter financial results after market close on October 26. Two days later, on October 28, Tesla and SolarCity will unveil a solar roof product, according to Tesla’s latest update on the merger and Musk’s initial tweet about this week’s product announcement.

Tesla is offering to buy solar panel maker SolarCity in an all-stock transaction with an equity value of US$2.6 billion, and won in August the approval of the Federal Trade Commission. The anti-trust regulator said that the approval was quick because the two companies had almost no overlaps in their businesses.

Last week, both companies set their respective shareholders’ meetings for November 17, during which shareholders will be asked to vote on the proposed acquisition.

By Tsvetana Paraskova for Oilprice.com

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