Tesla unveils new electric truck, and revives its Roadster

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Elon Musk unveiled Tesla's new semi-truck on Thursday. Using four separate electric motors, the Semi will go from 0 to 60 miles per hour in five seconds, compared with 15 seconds in a diesel cab, Musk said.

Tesla's truck can also follow other Semis autonomously to form a convoy of several vehicles - a feature that Musk outlined in his masterplan for the company a year ago.

Taking into account focus is now on ramping up Model 3 production and at the same time prepping the Semi and a second-generation Roadster, it means any potential pickup truck will have to wait.

Elon Musk Tesla Semi
TESLAElon Musk unveiling Tesla Semi truck

The truck has a range of 500 miles and can recharge to a range of 400 miles in just 30 minutes with the company's new Megacharger.

Tesla hasn't released any details about the semi. Each of the truck's wheels is powered by a Model 3 engine, and the cab of the truck itself boasts two of touch screens also found in the Model 3.

Tesla has unveiled an electric lorry with production due to begin in the United States in 2019. Most recent yet, Walmart has placed an order for five electric trucks for the US and 10 for Canada.

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The stock is up more than 4% after the event.

Demand for electric trucks is expected to grow over the next decade as the U.S., Europe and China all tighten their emissions regulations. Among them, Tesla claims its truck is better at climbing hills - able to retain speeds of 65 miles per hour on a five per cent gradient, while diesel versions can only reach 45 miles per hour. The cabin is tall enough for the driver to fully stand, while the driving position is also slightly centred. Right now, there's little charging infrastructure on global highways. Without Tesla's promised fast-charging, even a mid-sized truck would likely require a two-hour stop, cutting into companies' efficiency and profits, says Brian Irwin, managing director of the North American industrial group for the consulting firm Accenture. The vehicle can travel up to 125 miles on one charge. Falling battery costs also will help make electric trucks more appealing compared to diesels.

But even lower costs won't make trucking a sure bet for Tesla. The company, one of the largest supply chain solutions providers in North America, said that it had "placed a reservation to purchase multiple Tesla Semi tractors" though did not specify exact numbers.

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