Its shares climbed as much as 3.6 percent and traded at $304.54 as of 3:23 p.m.in NY, valuing the company at about $49.7 billion.
"We believe the Tesla Semi will deliver a substantial reduction in the cost of cargo transport while increasing safety and making it really fun to operate", he said in the company's "master plan". Musk noted that the team has "done an unbelievable job", suggesting that a significant portion of the work has been completed. More further details would be provided in the next six to nine months Tesla said at the time.
Master Plan - Part Deux also details other Tesla projects, and highlights Musk's vision and mission of revolutionary products that will drive a global transformation away from fossil fuels toward sustainable energy sources.
According to Seeking Alpha, Ramsey also questioned whether it would just be the truck, or would Elon Musk also expand Tesla's network of electric charging stations in order to manage commercial vehicle needs. The reveal of the Class-8 truck will likely precede its official production by 12-18 months, if not more. Last July, Musk said heavy-duty trucks were among the type of electric vehicles needed in the marketplace and that Tesla is expected to unveil their line of trucks later on this year.
Tesla CEO Elon Musk is saying it's "seriously next level".
Other companies are working on electric semis, and it's certainly an interesting market to tackle.
While Musk was teasing info without specifics, as an extra added bonus he mentioned the next Roadster will be a convertible. The addition of a semitrailer and pickup would boost its lineup.
The company is gearing up to build its widely anticipated Model 3 mid-market sedan.
In addition, the 45-year-old said Tesla's economy auto, the Model 3, will finally be launched in July.
Tesla's valuation rose after Piper Jaffray analyst Alex Potter on Monday upgraded Tesla's stock from a price target of $223 to $368.
Shares of Tesla (TSLA - Free Report) saw a nice mid-afternoon pop on Thursday, eventually closing out the day more than 2.4% higher.
This put the company ahead in market capitalization of much larger vehicle companies such as Ford and General Motors.