When Tesla Motors Inc (NASDAQ:TSLA) CEO Ellon Musk tweeted about a “D,” Twitter went awash with into a frenzy, with many speculations surrounding what the electric car maker was about to unveil. Thursday evening marked that day, and the company unveiled the “D.”
So what’s it? Well, it’s Model S sedan, but this one has some toppings that would really excite the car’s fans. What was revealed is a faster version of the car with extra automation features. And Ellon Must sought to explain what he meant when he tweeted: “about time to unveil the D and something else.
“D stands for dual motor,” Musk explained. “Dual motor all wheel drive, so you have, for the first time, a model S where all wheels are providing traction.”
Musk went ahead to say that the new features enable the car to auto-change lanes and break without the driver having to press the pedals. Basically that’s an autopilot, right? Tesla Motors Inc (NASDAQ:TSLA) has made it clear that the new features are meant to help reduce car crashes.
Tesla Motors Inc (NASDAQ:TSLA) has been optimistic about driving automation, and has been making minor additions to the Model S towards achieving that. In the latest release, some critics have however said that the company has only added something that other cars didn’t have, but nothing that could change the market.
“Some of the features may be unique … but not game-changing,” said Karl Brauer, an analyst with Kelly Blue Book.
Has Tesla Motors Inc (NASDAQ:TSLA) excited investors with the revelation? Apparently not! The revelation triggered a selloff that didn’t do any justice to the stock. The stock slumped 7.8% Friday to close at $236.91 a share. The fall is unlike what the company has experienced through the year, having risen 57% this year alone.
This article has been written by Victor Ochieng.