tesla On Thursday, nearly a decade after Elon Musk’s company began accepting deposits for its electric sports car, the company plans to unveil its long-delayed next-generation Roadster.
The event will be live streamed from space x Test site in McGregor, near Waco, Texas. It is scheduled to start at 7:55 a.m. local time (8:55 a.m. ET).
Tesla’s original Roadster was designed and engineered by a team led by founding CEO Martin Eberhard, used a Lotus Elise chassis, and was first delivered in 2008, selling in low volumes through 2012 for around $100,000.
The next-generation Roadster is expected to be a high-end, low-volume model that relies on SpaceX technology such as cold gas thrusters to enable hovering. While Musk enthusiasts are gearing up for demonstrations and expressing excitement on social media, the Lodester is unlikely to have a significant financial impact on the company.
Tesla has resumed pre-orders for the refreshed Roadster in recent weeks, accepting deposits of $50,000 from prospective buyers in the United States, Canada and China. Executives are expected to reveal specific prices, details and production targets.
Musk first promoted the refreshed Roadster concept at an event in November 2017, then in a series of tweets the following June. “The SpaceX option package for the new Tesla Roadster will include approximately 10 small rocket thrusters placed seamlessly around the vehicle,” he wrote at the time. The engine could improve speed and braking, and “make it possible for Teslas to fly.”
Tesla began accepting deposits of $50,000 in 2017, but has since missed all scheduled delivery dates. As recently as October last year, Musk touted his desire to have a demo of the Roadster by the end of 2025, but that didn’t happen.
Sam Altman, Musk’s former friend and co-founder of OpenAI, mocked the Tesla CEO in an X post last year for excessive delays and showed screenshots of Musk’s own reservations and refund requests.
“Really excited about the car! I understand the delay,” Altman wrote. “But seven and a half years felt like a long time to wait.”
Altman received a refund, and the two sides went to court earlier this year on separate issues related to OpenAI’s governance and ownership structure.
Some people are still on hold.
Lawrence O’Connor, founder and CEO of Other World Computing in Austin, Texas, told CNBC that he pre-ordered a Founder’s Edition of the new Roadster in November 2017, effectively giving the company a $250,000 “interest-free loan.”
O’Connor said in a message that he plans to attend Thursday’s event and is “excited to see the fruits of nine years of preparation.”
Tesla has established a no-fly zone around the SpaceX facility where it plans to display its vehicles, according to a filing with the Federal Aviation Administration. The company was forced to cancel its October 1 demonstration due to weather issues.
Tesla is scheduled to report third-quarter results after the bell on Wednesday.
WATCH: Tesla Roadster announcement scheduled for Thursday night
