Tesla plans next-generation Roadster reveal after almost a decade of delays

Key points

• Tesla plans to reveal its next-generation Roadster on Thursday at a SpaceX site in McGregor, Texas.
• The event starts at 7:55 p.m. local time, or 8:55 p.m. ET, and will be livestreamed.
• Tesla reopened $50,000 reservations in the U.S., Canada and China after years of missed delivery dates.

Tesla is planning to unveil its long-delayed next-generation Roadster on Thursday, almost a decade after the company began taking deposits for the electric sports car. The event will be livestreamed from a SpaceX test site in McGregor, Texas, near Waco, and is expected to begin at 7:55 p.m. local time, or 8:55 p.m. ET.

The original Roadster, designed and engineered by a team led by founding CEO Martin Eberhard, was based on a Lotus Elise chassis. It was first delivered in 2008 and sold for roughly $100,000 in small volumes until 2012.

What to expect

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 it to hover. Tesla reopened reservations in recent weeks, accepting $50,000 deposits from prospective buyers in the U.S., Canada and China. Executives are expected to disclose specific pricing, details and production targets.

Musk first promoted the refreshed Roadster concept at an event in November 2017, and the following June in a series of tweets. He wrote at that time that a SpaceX option package would include about 10 small rocket thrusters arranged around the car, improving speed and braking and possibly allowing it to fly.

I really was excited for the car! And I understand delays. But 7.5 years has felt like a long time to wait.

— Sam Altman

Delays and reactions

Tesla started taking $50,000 deposits in 2017 but has since missed every targeted delivery date. As recently as last October, Musk was hyping a Roadster demo he hoped would happen before the end of 2025, but that did not take place either. Sam Altman, Musk's former friend and OpenAI co-founder, mocked the delays on X last year, posting screenshots of his own reservation and refund requests.

Lawrence O'Connor, founder and CEO of Other World Computing in Austin, Texas, told CNBC he reserved a Founder's Edition in November 2017, effectively giving the company what he called an interest-free loan of $250,000. He said he plans to attend Thursday's event and is excited to see what has been 9 years in the making. According to FAA filings, Tesla established a no-fly zone around the SpaceX facility, and it had to scrap a demo on Oct. 1 due to weather issues. Tesla is scheduled to report third-quarter results after the bell on Wednesday.