Tesla gears up for trucks and buses

Workers add seat belts to a Model S sedan at Telsa's assembly plant in Fremont, California. [Photo/Agencies]

Elon Musk unveiled his master plan for Tesla Motors Inc, delivering a long-term vision that includes making an integrated solar and battery storage system and building a freight truck and a bus.

Musk delivered the long-awaited plan on the company's website partly to explain why the integration of Tesla and SolarCity Corp, of which he is also chairman, is necessary. He wants to use SolarCity, a rooftop solar panel installer, to generate electricity and charge an expanding range of Tesla models that address personal and public transport as well as cargo shipping.

"There are two other types of electric vehicles needed: heavy-duty trucks and high passenger-density urban transport," the Tesla chief executive officer said in the blog post, released on Wednesday. "Both are in the early stages of development and should be ready for unveiling next year."

Musk reiterated his call for acquiring SolarCity even as he outlined a significant expansion of Tesla's products and ambitions for ride sharing. Musk said the company will continue to pursue self-driving car technology so that Tesla customers will be able to use their cars for ride sharing, "to make money for you when you aren't using it".

Analysts are skeptical about Tesla's ability to add more products to its lineup.

"As is typical, Elon Musk has laid out a grandiose plan for the future with no time frames and few specifics, and no mention of how and when Tesla will be profitable," said Michelle Krebs, an analyst for Autotrader.com Inc. "Tesla's latest Master Plan includes expanding its electric-vehicle product line to cover all major segments, when it hasn't been meeting production targets with the limited product line it has now and in the next couple of years."

Bloomberg