Tesla Inc TSLA, a frontrunner in the electric vehicle industry, has diversified its offerings with various models and price points since launching its initial vehicle. The company has recently expanded into a new category with the introduction of the Cybertruck, a pickup truck.
While the Cybertruck was unveiled over four years ago and saw several delays, the idea to create a pickup truck may have been in the works at Tesla for 10 years.
What Happened: Originally set for a 2021 launch, the Cybertruck was unveiled to the public by Tesla and CEO Elon Musk on Nov. 22, 2019.
The vehicle, which overcame several delays and setbacks, saw a design inspired by the film "Blade Runner" and the James Bond vehicle from "The Spy Who Loved Me."
With the release of the Cybertruck, Tesla now has electric cars, SUVs, semi-trucks and pickup trucks.
While investors could have made a strong return investing in Tesla stock at the time the Cybertruck was first unveiled, they may have made even more if they bought the stock when Musk first mentioned creating a pickup truck.
"Would love to do a pickup truck. Something w ultra low cg for sports car handling, dynamic air suspension & mega torque," Musk tweeted on the night of May 24, 2013.
The tweet came three years after Tesla went public and when the company had released the Tesla Roadster and Model S previously.
Musk went on to discuss the idea of a pickup truck again several times before the official unveiling.
"What would you love to see in a Tesla pickup truck? I have a few things in mind, but what do you think are small, but important nuances & what would be seriously next level?" Musk asked his followers on Twitter in June 2018.
Recently, the first tweet about the pickup truck from Musk celebrated its 10 year anniversary, which prompted many to reminisce about the old post. Musk chimed in with "how time flies" while sharing an image of the original tweet.
Related Link: Elon Musk Highlights Potential $25,000 Next-Gen Vehicle: ‘Revolution In Manufacturing … Will Blow People’s Minds’
Investing $1,000 in Tesla: Musk's tweet about creating a pickup truck came on the Friday night of Memorial Day weekend in 2013.
Investors would have had to wait until Tuesday, May 28 to buy Tesla shares. A $1,000 investment could have bought 147.71 shares of Tesla, based on a split-adjusted price of $6.77.
The $1,000 investment would be worth $35,637.99 today, based on a price of $241.27 for Tesla at the time of writing.
This represents a return of 3,463.8% over the last 10 years.
For comparison, the same $1,000 invested in the SPDR S&P 500 ETF Trust, which tracks the S&P 500 broad market index, could have bought 5.99 shares of SPY. The $1,000 investment would be worth $2,747.07 today, representing a return of 174.4% over the last 10 years.
Read Next: Here’s How Many Vehicles Tesla Has Delivered, Produced In Each Quarter Since 2019
Photo: Tesla
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