Tesla Plans to Release Roadster EV Sports Car Next Year, Musk Says

Tesla (TSLA) is planning to ship its long-delayed Roadster electric sports car next year, CEO Elon Musk said in a series of posts on social media platform X on Wednesday.

Musk said that the Roadster’s production design is complete and will be unveiled later this year, and that the new sports car will be a collaboration between Tesla and his rocket and satellite internet company SpaceX.

The second generation of the Roadster was announced in 2017 but its release has faced multiple delays, with Musk saying in 2021 that shipping would begin last year. The company has blamed factors from the pandemic shutdown to a global chip shortage that had hobbled manufacturing at most car companies for the delays.

Released in 2008, the Roadster was Tesla’s first automobile. The company sold about 2,500 units before ending production in January 2012.

Last month, the EV maker said it plans to spend billions of dollars on a range of products over the few years. It is also preparing to revamp its most popular vehicle, the Model Y, at its Shanghai factory.

Tesla shares were up 1.5% at $202.67 at 10:50 a.m. ET time but are down about 18% this year.