Tesla unveiling “unexpected” new product on October 17

Tesla is set to unveil an “unexpected” new product on Monday October 17, according to CEO and founder Elon Musk.

Musk said in a Tweet on Sunday that the new product, “unexpected by most”, will be unveiled before the company’s solar roof unveiling on the 28.

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Although it remains unclear what the company will be revealing on October 17, there are already reports highlighting a few possibilities.

Darrell Etherington, a writer at TechCrunch, said that it’s possible Tesla will unveil a brand new vehicle or showcase improvements to its autonomous tech for existing cars.

An article published by Engadget says another possibility could be the unveiling of the finished Model 3 design.

The unveiling could also be related to upgraded versions of the firm’s at-home energy storage options — the Powerwall and the Powerpack.

We’ve got our next generation technology and we are trying to get up that production line so it’s gonna be heavily concentrated in Q4 and primarily in November and December,” Musk said during Tesla’s second-quarter earnings call.

“I think it’s going to be really exciting when people see it. That’s why I expect exponential growth from there. I think it’s really going to go ballistic.”

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Tesla/SolarCity won’t need to raise equity or corporate debt in Q4, says Musk

Shortly after announcing the surprise product unveiling, Musk said that it won’t be necessary for Tesla Motors Inc. and SolarCity Corp. to raise cash this quarter as they prepare for a merger.

Musk said in a tweet Sunday that he would “like to correct expectations that Tesla/SolarCity will need to raise equity or corp debt in Q4. Won’t be necessary for either.”

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Responding to a tweet asking if raising cash would be necessary in the first quarter of 2017 Musk replied, “Probably not then either.”