Elon Musk: Tesla will unveil its semi-truck in September

Regardless of being just a fraction of the size of its rivals, Market cap -wise Tesla Motors is now the major automotive company following rise in shares over the past few months. The company also released a short video that showed a Tesla accelerating.

Tesla Inc. plans to unveil an electric cargo truck in September, Chief Executive Elon Musk said Thursday, April 13, heating up the race to get a zero-emissions semi truck on the road, The Los Angeles Times reports.

The CEO congratulated the Tesla Semi team for doing "an wonderful job".

Previous year when Tesla CEO Elon Musk disclosed the company's intention to acquire solar installer SolarCity, the board of directors came under fire for having close relations with him.

Tesla will also unveil a pickup in the next 18 to 24 months.

Musk also responded to a question on Twitter about the company's vision for a "new kind of pickup truck" mentioned in master plan revision. As we previously reported, Musk put Tesla's Vice President of Vehicle Programs, Jerome Guillen, in charge of the automaker's all-electric heavy truck program.

At this stage, little is known of either except they are expected to be all-electric like all of the products from the company which eschews petroleum power. The addition of a semitrailer and pickup would boost its lineup.

Tesla, unprofitable and in debt, faces many challenges to meet Mr. Musk's ambitious goals, including bringing on a $35,000 Model 3 sedan later this year, boosting production to 500,000 next year from about 84,000 last year and demonstrating a fully self-driving auto that can cross the U.S.by the end of this year.

The company is gearing up to build its widely anticipated Model 3 mid-market sedan.

It found that, on average, a used Model S will take 87 days to sell, about 5% quicker than the other models. Skeptics say Tesla's growth targets are unrealistic. The company has a history of delays and coming in under promised production.

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