Tesla Motors Inc CEO Elon Musk spoke about the firms future in Hong Kong, where he also talked about some particularly interesting product ideas as well. The idea of a Tesla submarine is the most notable among those, and it certainly has generated a significant amount of headlines.
Tesla could make submarines, trucks
Speaking at the StartmeupHK festival, Musk discussed his vision of the future direction of the firm. In the US, the consumer demand for the trucks is always large, suggesting the electric car maker may diversify its product line in this direction, and that too at a very rapid pace. Confirming this notion, Musk said, “I think it is quite likely we will do a truck in the future. I think it’s sort of a logical thing for us to do in the future.”
Musk did not dismiss the notion of a submersible Tesla vehicle although he stated in the past that the market for such vehicles is rather small. Still, Musk has shown his excitement for the project by acquiring $1m Lotus submarine. Musk hinted the plans, saying he intends to “upgrade it with a Tesla Motors Inc electric power train and try to make it transform for real.”
Limited Model 3 unveiling at March event
Musk also talked about the upcoming Model 3, which is a mass-market electric car and will be the cheapest Tesla car so far. Tesla has indicated that Model 3 could be sold at $35,000, but several analysts have queried this figure. Tesla’s product line currently comprises of two cars – the Model S and the Model X.
Tesla Motors Inc will reveal its all-electric BMW 3 Series rival – the Model 3 – in March, but it won’t be showing everything. The firm does not intend to provide full details on its compact executive car. Musk speaking at a special event at Tesla’s base in France, hinted at a staggered unveiling for the Model 3, something similar to the unveiling of the Model X.
“The first pictures of the Model 3 will be end of March. I am being a little coy here, we are not gonna show everything about the Model 3 until a lot closer to production time,” Musk said.
Production of Model 3 is due to start in 2017, indicating that the wait for getting an unrestricted look at the Model 3 is going to be even longer. The car could make its world debut in Europe, which is a home to chief rivals of Model 3 that include the BMW 3 Series, Mercedes C-Class, Audi A4 and Jaguar XE.
At 9.48 EST, Tesla shares were down 3.58% at $184.30. Year to date, the stock is done almost 23%.