Tesla CEO Elon Musk plans to reveal something new at 2 p.m. Pacific Time today.
Elon Musk is creating more news. Fortunately, this time it won’t – or shouldn’t – involve the U.S. justice system.
Musk changed his name on Twitter to Elon Tusk and announced the company would be making an announcement at 2 p.m. Pacific Time today. He didn’t provide any other details, and has since changed his name back to Elon Musk.
Naturally this sent followers, analysts and industry observers a buzz with anticipation. One analyst, Adam Jonas of Morgan Stanley decided to take a stab at what he thinks is coming later today on the webcast.
Jonas believes it could just be the convertible bond repayment. The company has a $920 million bond due on Friday and Musk loves nothing more than publicly prove people wrong – many have speculated the company won’t have the cash to make pay it.
(SEC cites Musk for contempt. Click Here for the story.)
However, he does have a few other ideas as to what it could be, if not the repayment of the bond.
“The all-new midsized crossover/SUV is Tesla’s chance to take the learnings from the Model S, X, and 3 in design and manufacturing to offer a product in a far larger and faster growing global segment,” Jonas said in Wednesday note of the Model Y.
“The key downside to providing too much information about the Model Y and its enhanced capabilities in software and hardware is that it could steal the thunder of the still-ramping Model 3 just as it’s getting introduced into key international markets.”
(Click Here for details about Musk’s declaration Tesla will have a driverless car by the end of the year.)
However, if it’s a strategic partnership, Jonas believes could “help share the burden of future expenses, improve access to capital, and potentially ‘attach’ Tesla’s network of data capturing machines to a mega-platform/software layer.”
His loyal fanbase of Twitter followers had plenty of suggestions about what could be coming, including the Model Y, a pickup truck, a fully autonomous driving demo, faster recharging technology or a battery with more range.
Some of the choices were less … likely. Such as revival of Opportunity, the rover on Mars that just died. Additional “guesses” included Fart Mode 2.0, solar shingles now available across the U.S. – at half the price, a jet pack (named This is Not a Jet Pack) and finally a corndog maker for the Model 3.
(Tesla strongly hints at Q1 loss, facing strong headwinds ahead. Click Here for the story.)
Given his recent contempt charge filed by lawyers at the Securities and Exchange Commission, any type of hyping announcement may seem risky, but we’ll all find out for sure by 2:15 p.m. PT. Our bet is that entry-level priced Model 3 sedans will be available immediately … and for lease by the general public.