Tesla Unveils Rocket-Powered Roadster, Targets Production in 2028

Tesla has unveiled a redesigned Roadster electric sports car equipped with rocket-style thrusters capable of performing dramatic aerial manoeuvres, as the company targets production in 2028, more than a decade after first presenting a prototype of the next-generation vehicle.

The white two-seat car was demonstrated at a SpaceX test site in McGregor, Texas, in an event featuring ramps, smoke, dramatic music and a launch countdown. Developed in collaboration with Elon Musk’s rocket company SpaceX, the vehicle drove upside down on a ramp using a suction system before turning in the air and landing with the help of built-in thrusters. It later appeared to jump over a truck and other vehicles.

The spectacle drew enthusiastic reactions from Tesla supporters and investors. Tesla fan and investor Sawyer Merritt described the demonstration on X as the most extraordinary product presentation he had witnessed, questioning how the performance could have been achieved without artificial intelligence.

Musk and other executives did not announce prices during Thursday’s event. However, Tesla’s reservation page listed a Performance version requiring a $50,000 deposit and a Thrust version featuring acceleration thrusters with a $250,000 deposit. A Rocket variant, available by invitation only, was described as a single-seat model with a full flight system.

Tesla previously quoted a starting price of $200,000 when it first presented the second-generation Roadster in 2017.

Performance claims and delayed launch

Tesla vehicle engineering chief Lars Moravy said the new Roadster could accelerate from zero to 60 miles per hour in less than one second and reach a top speed exceeding 230 mph (370 kph). Musk suggested its maximum speed could be even higher, approaching half the speed of sound.

The company also said the car could travel more than 300 miles (480 kilometres) on a single charge. That range is less than half the figure Musk promised in 2017, when Tesla said deliveries would begin in 2020.

The original Roadster, launched in 2008 and sold until 2012, was Tesla’s first electric vehicle. Based on the Lotus Elise chassis, it helped demonstrate that electric cars could offer sports-car performance.

The new model could give Tesla a high-performance flagship vehicle at a time when the company is increasingly focused on autonomous driving and robotics. Morningstar analyst Seth Goldstein said the Roadster could become Tesla’s new halo car, showcasing its engineering capabilities and technology.

Attention turns to Tesla’s future strategy

The event also prompted speculation about closer ties between Tesla and SpaceX, two companies controlled by Musk. Gene Munster, managing partner at Tesla investor Deepwater Asset Management, described the demonstration as an engineering showcase and suggested it could strengthen the case for bringing the companies together.

Musk has previously played down the Roadster’s financial significance, describing it in 2023 as a project unlikely to make a major difference to Tesla’s finances.

The unveiling comes as Tesla shifts resources towards artificial intelligence, self-driving technology and humanoid robots. The company has stopped selling its Model S and Model X vehicles to make room for production of its Optimus robots and has introduced the Cybercab, a two-seat robotaxi without conventional driving controls.

Tesla is scheduled to report third-quarter results on October 21. Although higher petrol prices helped support deliveries during the quarter, sales of its ageing electric vehicle lineup have declined over the past two years.

Josh Gilbert, lead analyst for Asia-Pacific at trading platform eToro, said investors would pay closer attention to Tesla’s profit margins and cash flow than to the Roadster demonstration.