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Tesla Motors Inc (TSLA)’s New Roadster Reloaded is Coming!

Tesla Motors, Inc (NASDAQ:TSLA)

Looks like Tesla Motors Inc is taking on another project – one that will excite sports car fans. When we reported in February that the firm would be coming to market with the Roadster reloaded –we weren’t kidding you. We reported that Tesla would return a new Roadster to the market by 2019 even after the firm had discontinued production of the performance EV. It turns out that were we on to something as Elon Musk has confirmed that he wants to build even faster classic EV from the ground up.

Tesla Motors, Inc (NASDAQ:TSLA)

Tesla has a long an interesting history with the Roadster. The Roadster is Tesla’s first car and the firm might have never made it out of startup mode if the Roadster hadn’t succeeded. The Roadster was a performance EV that took on ICE performance cars such as Ferrari and Porsche. The firm produced about 2400 units of the car but the effect of those cars on the auto market was more than enough to prepare a warm welcome for the Model S.

New Roadster is Bigger, Better, and Faster

Since our February report, we hadn’t heard a word from Tesla Motors about its plan for the new Roadster.  Last week when a Tesla official provided some hints.  Peter Bardenfleth-Hansen, Tesla’s manager in Nordic countries made revelations about the new Roadster while at an electronic trade fair in Sweden. He says, “We would have loved to build more (Roadsters), but if no one other than you would be listening right now, then I’d probably tell you that we will manufacture it (Roadster) again. It will look a little different, a little faster and a little bigger”.

The details of the new Roadster are still sketchy but it appears that it would be built on the third-gen platform on which the mass-market Model 3 is built. You will remember that the first Roadster was built on Lotus – it seems Tesla stopped production when it ran out of Lotus chassis supply.  The fact that the new Roadster will be built on the Model 3 chassis suggests that the car might be lighter with a smaller battery pack.

Elon Musk has promised to reward the buyers of the first Roadster for their support by offering a retrofit on their cars. The retrofit, which was called Roadster 3.0, will include a new battery pack for longer range, new tires to reduce rolling resistance, and a new aero kit to reduce drag. Nonetheless, it appears that Tesla hasn’t left the drawing board for the news Roadster – the firm still has a fixation on getting the Model 3 to production and meeting the 400K preorders with minimal issues.

Tesla legal team loses talent to Faraday Future

Interestingly, it is a mixed bag of news for Tesla Motors today because the its bullish outlook is supported by a revamped roadster while the exodus of top talents at the firm is raising the bear votes. Fortune reports that James Chen VP Government Relations and Deputy General Counsel at Tesla have left the firm to join Faraday Future as the VP of government relations and general counsel.

Chen has hinted that he moved to Faraday Future because of the thought process and not because he wanted to be promoted from Deputy General Counsel to General Counsel. He says, “The vision of Faraday Future involves leveraging the electric vehicle platform in new ways that would appeal to a broad audience… I was attracted by the prospect of being part of a leadership team that wanted to make that vision a reality. This decision was not about Tesla versus FF…”

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Victor Alagbe is a seasoned business and finance writer with a specialty in writing about how to invest for the long-term in healthcare, pharmacology, energy and tech stocks. His long-term focus is on stocks that provide a nice mix of growth and income. For the short term, he passionately writes about trading stock options for the excitement and leverage that stock options offer.

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