After nearly a decade of delays, Tesla, Inc. (TSLA.US)'s next-generation Roadster has finally made its debut: 0-60 mph in 0.81 seconds, capable of flying, and not going into mass production until 2028.

After nearly a decade of delays, Tesla, Inc. (TSLA.US)'s next-generation Roadster has finally been unveiled. On Thursday local time, Tesla, Inc. held a launch event at SpaceX's rocket test site in McGregor, Texas, which was also livestreamed online. Tesla, Inc. CEO Musk, design chief Franz von Holzhausen, and vice president of vehicle engineering Lars Moravy were all in attendance. The atmosphere resembled an outdoor concert, with smoke swirling, red laser lights flashing, and content creators crowding both sides of the main stage against a backdrop of a towering banked ramp structure shaped like a skateboard U-pool. In his opening remarks, Musk said: "You're going to see some crazy stuff tonight. You're going to see the result of the world's best car company working with the world's best rocket company." This statement set the tone for the entire event: the Roadster is not just an electric supercar, but has been packaged by Tesla, Inc. as a product of the intersection between automotive engineering and SpaceX (SPCX.US) rocket technology. The demonstration segment was highly visually striking. A white two-seat sports car shot up a curved ramp, then hung upside down, flipped through the air, and hovered slowly in midair before landing. Moravy explained that the vehicle's underside uses a "fan suction system" to increase grip and downforce. After that, the Roadster also used a pair of compressed-air thrusters to fly through the air, partially fulfilling Musk's years-long promise of a "flying car." In the livestream footage, the car also completed a jump over Tesla, Inc.'s entire lineupincluding the Semiwith some demonstrations not even using a ramp, but instead taking off almost vertically. The performance figures were equally aggressive. According to Tesla, Inc.'s on-site timer, the Roadster accelerated from zero to 60 mph in just 0.81 seconds, a result Moravy demonstrated for the audience. The car's top speed was listed at 230 mph, and Tesla, Inc. also claimed its ultimate target top speed is Mach 0.5, or about 383 mph. In terms of configuration, the Roadster features steer-by-wire, an active rear wing, a fixed seating posture inside the cabin, copper-tinted glass, and a paint finish that Tesla, Inc. calls "optimized for the space environment." In design, the new car has changed noticeably from the prototype shown in 2017, shifting overall from a rounded, streamlined look to a wedge-shaped, sharp style, with a Lotus Esprit-style silhouette and various classic supercar elements, and it has even been considered by some observers to be as controversial as the Cybertruck. Technically, the Roadster is regarded as a "fan car" similar to the McMurtry Speirling, able to suck itself onto the road surface via underbody fans and even hang upside down while stationary. The fans work with the active rear wing to switch between a low-drag high-speed mode and a high-downforce track mode. The cold-gas thrusters do not involve combustion, but instead rely on pressurized inert gas to generate thrust. It is said that the first versions will be equipped with the fan system, but rocket thrusters will only be installed at the rear; thrust solutions for other axes are said to be introduced later, and by invitation only. However, behind this launch event is a long history of broken promises. Tesla, Inc.'s first-generation Roadster was designed by a team led by founding CEO Martin Eberhard, based on the Lotus Elise chassis, and was first delivered in 2008 at a price of about $100,000, selling in small batches until 2012. The car proved that electric vehicles could be both fun and appealing, and helped push Tesla, Inc. into the mainstream market. The second-generation Roadster concept was first shown in November 2017, after which Tesla, Inc. began accepting $50,000 deposits, with deposits for the limited 1,000-unit "Founder Series" reaching as high as $250,000. Production was originally planned for 2020, but that target was never achieved, and every delivery timeline since then has been missed. In June 2018, Musk said in a tweet that the SpaceX option package would include about 10 small rocket thrusters seamlessly arranged around the vehicle, which could improve speed and braking and even "make Tesla, Inc. fly." Last October, Musk also touted hopes of holding a Roadster demonstration before the end of 2025, but that also failed to happen. The long delays have also drawn mockery. Musk's former friend and OpenAI co-founder Sam Altman once posted screenshots on X of his reservation and refund request, saying, "I really looked forward to this car, and I understand the delays, but a 7.5-year wait is too long." Altman eventually received a refund, and the two sides also went to court this year over OpenAI governance and ownership structure issues. Some customers chose to keep waiting. Lawrence O'Connor, founder and CEO of Other World Computing in Austin, Texas, said he reserved a Founder Edition Roadster in November 2017, equivalent to providing Tesla, Inc. with a $250,000 "interest-free loan," and said he was "excited to see the result of nine years of work." Recently, Tesla, Inc. reopened reservations for the new-generation Roadster, accepting $50,000 deposits in the United States, Canada, and China. According to U.S. Federal Aviation Administration documents, Tesla, Inc. established a no-fly zone around the SpaceX facility. The company had originally planned a demonstration for October 1, but it was canceled due to weather issues. At the event, Tesla, Inc. did not announce the Roadster's price and only confirmed that production will begin in 2028. Executives had previously been expected to disclose specific pricing, details, and production targets. From a financial perspective, analysts believe the Roadster's direct contribution to Tesla, Inc.'s overall sales is expected to be limited. Positioned as a high-end, low-volume vehicle, it will compete with high-performance models from brands such as Porsche (POAHY.US), Lamborghini, and Ferrari NV (RACE.US). But high profit margins could make it a considerable source of revenue. Independent research firm Battle Road Research estimated in a Thursday report that if the Roadster sells 7,000 units in the first 12 months of production at an average selling price of $280,000, it would generate nearly $2 billion in annualized revenue and boost Tesla, Inc.'s 2027 revenue forecast by about 2%, a contribution that is "not too shabby." Ross Gerber, CEO and co-founder of Gerber Kawasaki Wealth Management, is skeptical about what the car means for the EV giant. Although he reiterated his support for electric vehicles and noted that options remain limited when considering high-end EVs in the United States, he predicted the Roadster may be only a limited-edition model, while emphasizing the importance of lower-cost EV options in the market. "I think it's just going to be a one-off thing, maybe they build a few hundred and sell them. That's it." "There is huge demand for cheaper electric vehicles," Gerber said. In fact, Musk has also consistently downplayed the car's financial importance to Tesla, Inc., describing it in 2023 as "a small thing" that would not "have a significant financial impact." Still, the car carries symbolic significance. Morningstar analyst Seth Goldstein said in a report last month: "Tesla, Inc. currently does not have a halo model, that is, a niche high-performance Deluxe Corporation vehicle used to showcase an automaker's best engineering and technological strength. The Roadster will become Tesla, Inc.'s new halo model." Goldstein expects Tesla, Inc. to sell about 2,000 Roadsters per yearbut that is only a fraction of Tesla, Inc.'s 1.6 million vehicle sales last year. It is worth noting that in recent years Tesla, Inc. has shifted resources toward autonomous driving and the Siasun Robot&Automation business. The company recently stopped production of the high-end Model S and Model X, saying the related factory space will be converted to produce the Optimus humanoid Siasun Robot&Automation. Musk reiterated on Thursday that the new Roadster will be Tesla, Inc.'s last human-driven car and, in the long run, its only manually driven model. Although the launch event drew plenty of attention, market doubts about the Roadster have not dissipated. Analysts pointed out that from regulatory approval and technical practicality to mass-production feasibility, the car still leaves a large number of question marks. Although the cold-gas thrusters do not involve combustion, if used on public roads they could trigger safety and legal disputes; racetracks and airports may not necessarily allow vehicles to launch vertically either. Gerber also questioned the significance of the Roadster's hovering function. He said: "Why do I need a car to hover?" "I don't see what the point is," he said, adding that the feature would sharply drive up costs. "I think it's a gimmick," he noted. If it ultimately cannot be delivered in the state shown, the Roadster may be seen as yet another case of "overpromising"; if it can deliver, it will undoubtedly become an extremely aggressive attempt in the mass-production vehicle space. Tesla, Inc. is scheduled to report third-quarter results after the U.S. market close next Wednesday, and the market will be watching how the company balances its long-term vision with the current pressures on its automotive business.