Ex-Tesla employees aim to launch an electric roadster before Musk can
An automotive startup based in Britain aims to release an exclusive fully electric open sports car before Tesla can deliver its long-promised roadster model.
Pre-orders are already being taken by Longbow Motors, which was founded in 2023 by Daniel Davey and Mark Tapscott, former Tesla and Lucid employees who also gained development experience at China's BYD. Production is due to start by 2026.
Tesla fans are still waiting for a roadster from the company which was promised by chief executive Elon Musk in 2020 and again last year.
Musk went on record as saying that the new Roadster "has to come behind the things that have a more serious impact on the good of the world".
Power from an electric motor is not the problem with electrically driven sports cars but rather the weight that hampers performance.
Longbow Motors said it wants to counteract this with its concept of "Featherweight Electric Vehicles" (FEV). The lightweight sports car will be available as a roadster and an open Speedster.
Both cars should be very quick to to hit 100 km/h although no official figures or detailed specification have been released. The models are based on an aluminium platform which delivers a weight of 995 kilos for the hardtop and 895kg for the open Speedster.
"There is a need for a driver-centred, featherweight electric sports car that is affordable and accessible to those who love driving and the places it takes them. That's why we developed Longbow," said co-founder and chief executive Daniel Davey in a release.
Davey had been in charge of the launch of the Tesla Model 3 in Europe and was Lucid's first official representative beyond North America. Tapscott worked on the Lotus Elise.
The Longbow Speedster is being launched as a limited edition of 150 vehicles at a price of around €102,000. Customers can also reserve the Luminary 1st Edition and Autograph Edition models, which are limited to 10 and 25 units respectively.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
39 minutes ago
- Yahoo
The Tesla share price could skyrocket next week!
The Tesla (NASDAQ:TSLA) share price is quite frankly hard to keep track of. One moment its down near $220, the next it's pushing towards $400. However, next week could be a big week for the company. The stock's valuation hinges not on electric vehicles (EVs), but its potential leadership in the autonomous driving space. As such, Tesla's upcoming robotaxi launch in Austin, Texas, set for 12 June, has reignited debate over the company's sky-high valuation and the potential for dramatic share price swings in the coming week. The move marks Tesla's long-awaited entry into the autonomous ride-hailing market. With rivals like Waymo, Zoox, and Avride already operating in the city's tech-friendly environment, Tesla may be in danger of falling behind. At the heart of any discussion about Tesla — or any stock — is valuation. Tesla's current and forward multiples remain among the highest in the consumer discretionary sector. The company's forward price-to-earnings (P/E) ratio stands at 180.4 times, nearly 1,000% above the sector median of 16.4 times, and even higher than its own five-year average of 115.1 times. The forward price-to-earnings-to-growth (PEG) ratio is 8.6. That's more than four times the sector median — and remember some of these other companies will pay a dividend. This tells us that even with projected earnings growth, the stock is expensive by growth investing standards. Meanwhile the price-to-sales (P/S) and enterprise value-to-EBITDA (earnings before interest, tax, depreciation, and amortisation) ratios tell a similar story. Tesla's forward P/S is 11.31 (sector median is 0.87), while its forward EV-to-EBITDA is 76.58 (sector median: 9.73). These metrics indicate Tesla is valued not just as a carmaker, but as a tech company with enormous anticipated future profits. The market's optimism, or overoptimism, is rooted in the robotaxi story. Tesla aims to dominate in the sector by quickly scaling its robotaxi operations globally. In theory, it's a high-margin business with strong recurring revenues. This would fundamentally alter the company's earnings profile. However, this optimism is highly speculative and contingent on overcoming significant technical, regulatory, and competitive hurdles. And that's why it's so important that Tesla impresses with its launch next week. There's also the Optimus robot. This is Tesla's humanoid robot, which like the robotaxi venture, is built around developments in artificial intelligence (AI). Optimus could also be game changing. Despite the possibilities, Tesla's valuation leaves little margin for error. And this risk is compounded by the competitive landscape in Austin. Waymo, especially, already established a presence, and its technology relies on different approaches — such as lidar and radar — compared to Tesla's camera-based system. And while Elon Musk touts Tesla's approach as more scalable and cost-effective, the company has a history of missing self-imposed deadlines on autonomy, which could test investor patience if the rollout stumbles. Personally, I want to see Tesla do well. I want companies to succeed and push the boundaries of technology. However, I believe Tesla's execution risk is considerable and the valuation hard to justify. That's why I'm watching from the sidelines. The post The Tesla share price could skyrocket next week! appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool James Fox has no position in any of the shares mentioned. The Motley Fool UK has recommended Tesla. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025 Sign in to access your portfolio
Business Insider
40 minutes ago
- Business Insider
Trump Ready to Ditch His Tesla Car amid Musk Fallout: 'I Might Just Get Rid of It'
WASHINGTON — June 7, 2025 President Donald Trump is distancing himself from Elon Musk—publicly and materially. According to The Washington Post, Trump has told aides in recent days that he is considering selling or giving away the red Tesla (TSLA) Model S he purchased in March, a gesture that once symbolized his support for Musk. Confident Investing Starts Here: 'I might just get rid of it,' Trump told aides, according to a senior White House official who spoke on the condition of anonymity. The car, still parked near the White House as of this week, has become a visible casualty of the rapidly souring relationship between Trump and Musk. The split followed Musk's harsh criticism of the administration's latest domestic policy bill, which he publicly called a 'disgusting abomination.' That comment triggered a sharp response from the president, both publicly and privately. On Air Force One, when asked by a reporter about Musk's alleged drug use, Trump replied: 'I don't want to comment on his drug use. I don't know what his status is.' 'I read an article in The New York Times. I thought it was, frankly, it sounded very unfair to me.' But privately, Trump has reportedly told associates that Musk is 'crazy' and blamed his behavior on drug use, according to The New York Times. Musk Gave No Public Comment on the Car—But a Hint at Peace? As of Saturday afternoon, Elon Musk has not issued any public statement specifically addressing Trump's decision to unload the Tesla. However, he did respond to a suggestion from investor Bill Ackman on X that the two men should reconcile for the good of the country. 'You're not wrong,' Musk replied—his only recent public comment that could be interpreted as a gesture toward de-escalation. Beyond that, Musk has been active on X in recent days, directing criticisms at others, including Steve Bannon and critics of Tesla, but has avoided commenting directly on Trump's actions regarding the car or federal contracts. Trump Weighs Tesla Breakup The sale—or symbolic disposal—of the Tesla would mark a final, visual severing of a political and personal alliance that once had significant policy weight. Musk had been one of Trump's most prominent business backers, and the March purchase of the Model S was, at the time, framed by aides as a nod of approval to the entrepreneur's role in the administration. Now, according to officials, the car is being referred to inside the West Wing as a political relic. And while no final decision has been made, staff say it's become a quiet but pointed symbol of Trump's intent to distance himself from Musk for good. Trump himself, speaking about Musk during a press gaggle on June 6, said: 'I'm very disappointed in Elon. I've helped Elon a lot.' Whether the car is sold, donated, or simply removed from view, it now stands as a monument to one of the most dramatic falling-outs in recent political history. Is Tesla Stock Still a Buy? Meanwhile, Wall Street isn't exactly bullish on Musk's flagship automaker. According to TipRanks, Tesla currently holds a 'Hold' rating based on 37 analyst reviews over the past three months. It's a split camp: 16 analysts rate it a Buy, 10 say Hold, and 11 recommend Sell — a clear reflection of the uncertainty swirling around the company. The market seems just as cautious. The average 12-month price target for TSLA is $284.37, suggesting a 3.7% downside from its current level.
Yahoo
an hour ago
- Yahoo
Tesla's Optimus robot VP is leaving the company
The head of Tesla's Optimus humanoid robot program, Milan Kovac, is leaving the company. Kovac said Friday in a post on X that he "had to make the most difficult decision" of his life to leave. "I've been far away from home for too long, and will need to spend more time with family abroad," he wrote. Kovac said that was "the only reason" and that his support for Musk and Tesla is "ironclad." Kovac's departure was first reported Friday by Bloomberg News. The departure comes as Tesla CEO Elon Musk has claimed the company will have "thousands" of Optimus robots operating in its factories by the end of this year. "And we expect to scale Optimus up faster than any product, I think, in history, to get to millions of units per year as soon as possible," Musk said last month. Kovac worked at Tesla for nearly 10 years, with much of that time coming as a top engineer on the Autopilot team. He was tapped to help lead development of Optimus in 2022 and became a vice president overseeing the program in late 2024. "I'm driving the Optimus program (Tesla's humanoid robot) & all its engineering teams," Kovac previously wrote on his LinkedIn profile. "Separately, I'm also driving the engineering teams responsible for all the software foundations & infrastructure common between Optimus and Autopilot." Ashok Elluswamy, the vice president of Tesla's AI software division, will take over the Optimus project, according to Bloomberg. This story has been updated with information from Kovac's X post about his departure.
