When it comes to media attention, Tesla Inc. is that electric car making company that is famous for gathering social attention, whether through its controversial tweets from the founder or new product launches. Tesla’s shares went up and crossed the $1000 benchmark after the semi truck’s production memo got leaked. The wall street market has given a tremendously positive response to the leaked memo of Tesla starting the production of semi-trucks. The shares of electric car making company were trading above $1000 on Wednesday trading. The company’s overall market capitalization has now crossed $187 billion and is increasing rapidly since Elon Musk is focusing on starting the production of semi-trucks.
The tweet of Elon Musk mentioning and saying “YES” as a reply to a question asked whether the leaked production is real, shows how investors think quickly. Tesla semi was in limited production for a long time, and Musk believes it has improved its quality over time. Musk said the production of battery and powertrain would be done in the gigafactories of Sparks, Nevada. However, Musk did not mention where the actual output of trucks will begin; instead, he said the remaining work would be done in other states.
People asked Musk about where the final assembly will be, and Musk replied, “We will see.” Tesla trucks made lots of buzz in the news when it first debuted in November 2017, and during that launch, Musk said this truck would drive similar to the company’s other vehicles. However, the Tesla truck got overshadowed by the Model 3, and later by the Model Y. The company did not focus that much then on the Tesla truck, which lowered its popularity. However, now things have changed; they are trying to begin the production of Tesla trucks again.
Paul is an American-based writer covering Latest business trends. Paul cover Business and media for many news sites. He has been breaking news and writing features on these topics for major publications since 2012. Paul prefers writing about business news keeping science and technology into perspective.