Tesla (TSLA) will unveil its electric semi truck tonight at 11 PM ET. The event will be streamed on Tesla's website.
The unveiling is sure to generate a lot of attention in the media. Some are expecting a ~300 million mile range for the electric truck. Normal semis usually go ~600 miles/day. The Cummins (CMI) e-Truck has a 100-mile range while Daimler's was ~220 miles. The Tesla e-truck would be more expensive than a traditional semi-truck, but lower maintenance and fuel costs would offset that.
Still, it is all bout the Model 3 for Tesla. Bears would argue tonight's event is nothing more than a distraction. A semi vehicle has huge potential down the road, but Tesla's backlog is already quite full with the Model 3 and additional projects will require much more capital.
At the same time, Tesla's $52 billion valuation does seem to price in a disruption of the transportation sector beyond the Model 3. Plus, the market has shown willingness to let the company to tap the markets for additional capital.
Production for the mas market EV is ~three months behind schedule and Elon Musks's 500K unit build plan for 2018 is now seemingly way out of reach.
Still, if/when the company is able to scale production without any major miss-steps, the company's loyal fan base will likely be pleased.