Tesla CEO Elon Musk was asked about when the next-gen Roadster would be available during today’s earnings call, and his answer left much to be desired.
But today, he was asked again, simply, “what’s going on with the Tesla Roadster?” And instead of giving the same answer, he gave a softer one, suggesting that the vehicle may well be delayed again. Here it is in full:
Well I’d certainly like to thank our long suffering deposit holders of the Tesla Roadster. The reason it hasn’t come out yet is because the Roadster is not just the icing on the cake, its the cherry on the icing on the cake. Our larger mission is to accelerate the progress towards the sustainable energy future, to try to do things that maximize the probability that the future is good for humanity and for Earth. And so that necessarily means that the things that are kinda like dessert – we’d all love to work on the next-gen Tesla Roadster, it is super fun, and we are working on it – but it has to come behind the things that have a more serious impact on the good of the world. So just thank you to all our long suffering Tesla Roadster deposit holders, and we are finally making progress on that. We’re close to finalizing the design on that, it’s truly gonna be something spectacular. Y’know, a friend of mine, Peter Thiel – y’know and sometimes people think that Peter Thiel and I are rivals, we’re really good friends – but you know Peter was lamenting on how the future doesn’t have flying cars. Well, we’ll see.
So, to break this down: last time, Musk said the Roadster is coming out in 2025. This time, he did not say that, despite that it would have been an easy enough reiteration to make given that he said it three months ago.
Last time, Musk stated that “we’ve completed most of the engineering,” and that Tesla was still planning some upgrades, but would go into production “next year,” that is, in 2025 (as one of the 6 big products Tesla says are coming “next year”).
But here, three months later – and getting close to the point where “next year” becomes “this year” – Musk could only say that Tesla is “close to finalizing the design.”
But then, we’ve heard almost exactly this language before, many years ago. Here’s an example from 2021:
In addition to this language we’ve heard before, Musk included a lot of hemming and hawing about the reasons behind the lack of progress on this Roadster, which some reservation holders deposited $50,000 or even $250,000 for, seven years ago now. That’s quite a long zero-interest loan they’ve given the company.
While it makes sense that the company would have other priorities than to release a supercar, the company certainly has plenty of resources available compared to the five vehicles it currently sells – and, perhaps, if it thought there were other priorities, it shouldn’t have taken $250,000 deposits 8(+?) years before release.
Elsewhere in Tesla’s earnings letter, the Roadster was listed as “TBD” and “In development” on a chart of Tesla’s current and upcoming models, much as it has been in the past.
So, no change here, despite the previous announcement of 2025 production.
Finally, Musk suggested again today that the upcoming next-gen Roadster would be able to fly, something he’s mentioned multiple times before. This would presumably take advantage of the teased “SpaceX package” with rocket thrusters which are intended to improve the car’s performance.
Given that many of today’s EVs are tire-limited in terms of acceleration (and basically all vehicles are tire-limited for handling), thrusters could theoretically be arranged around a car to add force in whatever direction is most advantageous to performance – either laterally for cornering or facing upwards to provide downforce and improve grip (which then helps cornering).
However, it should be noted that one of the primary ways to improve vehicle performance is downforce, not upforce (the latter is not even a term anyone has ever used, because it’s so harmful towards performance).
Downforce increases the apparent weight of a car without increasing its mass, which means that you gain the benefits of increased tire grip without also gaining more inertia which makes it harder for cars to accelerate, decelerate and turn. This was used to great effect in the record-breaking McMurtry Spierling “fan car” (watch the video in that link – it looks like playing a videogame with cheat codes on).
Putting thrusters on a car which enable to go upwards is at best a party trick, and at worst a waste of additional mass which could be removed to improve vehicle performance or comfort instead.
So perhaps I can clear up some of those engineering delays for Mr. Musk: stop trying to make the car fly. It’s dumb. This is not how basic, high-school level physics works.
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Crypto investor Nicholas Pinto attends President Donald Trump’s gala dinner for people who spent the most money on Trump’s meme coin, $TRUMP, in a contest, at Trump National Golf Club in Potomac Falls, Virginia, May 22, 2025.
Nicholas Pinto
The price of President Donald Trump‘s meme coin plunged 16% as of Friday morning, just hours after he hosted a black-tie gala at his Virginia golf club for its biggest buyers — an elite crowd that spent a combined $148 million on the token for the chance to be there.
It was billed as “the most exclusive invitation in the world.”
Among the 220 attendees were crypto influencers, industry executives such as Sandy Carter of Unstoppable Domains, and former NBA star Lamar Odom, who used the occasion to praise Trump as “the greatest president” and promote his own token, $ODOM.
The top 25 wallets were promised a private reception and guided tour. Others, such as 25-year-old Nicholas Pinto — whose dad drove him to the event in his Lamborghini — left underwhelmed and still hungry.
“The food sucked,” Pinto said. “Wasn’t given any drinks other than water or Trump’s wine. I don’t drink, so I had water. My glass was only filled once.”
Trump made only a brief appearance, Pinto said. “He didn’t talk to any of the 220 guests — maybe the top 25,” he said.
All in, the president was there for 23 minutes, Pinto said. Trump delivered a brief address rehashing old crypto talking points then left on a helicopter before taking any questions or pictures with his meme coin contest winners, he said.
Phones weren’t locked in RFID pouches, and security was lax, according to Pinto.
“Once Trump left, they didn’t really worry about anything else,” Pinto added.
Contest winners who spent the most on $TRUMP meme coins added their signatures to a poster-sized printout of the leaderboard at a gala dinner at Trump National Golf Club in Potomac Falls, Virginia, May 22, 2025.
Nicholas Pinto
The crowd’s opulence was on full display.
“Richard Mille watches weren’t even rare,” Pinto said. “I saw at least 16 people wearing them. I never see that unless I’m at a high-end restaurant in Miami or Dubai.”
But the vibe was more muted than expected, he said: “Lots of people didn’t even hold the coin anymore. They were checking their phones during dinner to see if the price moved.”
CNBC has reached out to Trump representatives for comment on the dinner and attendees.
Protests
For lawmakers and regulators, the dinner set off alarm bells.
The #1 token holder was Chinese-born crypto mogul Justin Sun, who is currently facing Securities and Exchange Commission fraud charges that were recently paused, with the agency citing “the public interest.”
Sun holds over $22 million in the $TRUMP token and another $75 million in World Liberty Financial’s native token.
“As the top holder of $TRUMP and proud supporter of President Trump, it was an honor to attend the Trump Gala Dinner,” Sun posted on Friday. “Thank you @POTUS for your unwavering support of our industry!”
Outside the gates of Trump National Golf Club in Potomac Falls, Virginia, about a hundred protesters gathered, according to NBC News. Sen. Jeff Merkley, D-Ore., joined them, backing a new End Crypto Corruption Act with Senate Minority Leader Chuck Schumer, D-N.Y.
Signs read “Crypto Corruption” and “Trump is a traitor.”
Crypto on Capitol Hill
“The Trump family activity in the memecoin space makes my work in Congress more complicated,” Rep. French Hill, R-Ark., told CNBC on Friday.
Hill, who’s leading negotiations on a bipartisan stablecoin regulation bill known as the GENIUS Act, called the gala “a distraction from the good work we need to do.”
Now, the GENIUS Act is at risk.
Sen. Josh Hawley, R-Mo., recently added a controversial rider to the bill that would cap credit card late fees — what’s seen as a poison pill that could alienate banking allies and stall final approval.
President Donald Trump speaks at a dinner for meme coin contest winners at Trump National Golf Club in Potomac Falls, Virginia, May 22, 2025.
Nicholas Pinto
On Thursday night as the meme coin contest dinner was underway, a bloc of Senate Democrats announced they’d be pushing for a new provision that would ban presidents and senior officials from profiting off crypto ventures while in office — a direct challenge to the Trump-linked stablecoin USD1 that launched in the spring.
In Washington, there’s growing concern that political infighting over Trump’s crypto ventures could derail the stablecoin bill altogether. That poses an even bigger risk.
According to The Wall Street Journal, major banks including JPMorgan, Bank of America and Citi are in early talks to issue a unified digital dollar to compete with Tether, the foreign-controlled stablecoin that now commands over 60% of global market share.
Those plans hinge on legal clarity.
If the GENIUS Act stalls, the U.S. could lose its window to regain ground in the global race for digital payments.
The White House has tried to draw a line between Trump the president and Trump the private businessman.
“The president is attending it in his personal time. It is not a White House dinner,” press secretary Karoline Leavitt told reporters when pressed on attendee transparency.
The administration declined to release a guest list. But blockchain data — and a patchwork of guest photos — tell part of the story.
A Bloomberg News analysis found that all but six of the top 25 wallets used foreign exchanges, ostensibly off-limits to U.S. users. More than half of the top 220 wallets were linked to similar offshore platforms.
One Nasdaq-listed penny stock, Freight Technologies, disclosed in an SEC filing that it spent $2 million on Trump’s token to push U.S.-Mexico trade policy. It didn’t make the cut for the dinner — finishing 250th.
Since its January debut, the $TRUMP coin has generated more than $324 million in trading fees. Roughly 80% of the $TRUMP token supply is controlled by the Trump Organization and affiliates, according to the project’s website.
WLFI, the Trump’s parallel token, has sold $550 million in two token sales.
Still, White House AI and crypto czar David Sacks remained bullish on “significant bipartisan support” for stablecoin legislation.
“We already have over $200 billion in stablecoins — it’s just unregulated,” Sacks told CNBC’s “Closing Bell Overtime” on Wednesday. “If we provide the legal clarity and legal framework for this, I think we could create trillions of dollars of demand for our Treasurys practically overnight, very quickly.”
“We have every expectation now that it’s going to pass,” added Sacks, though he didn’t answer a question about concerns from Democrats that there aren’t sufficient safeguards in place to keep the president and his family from profiting from legislation.
The Trumps are financial backers of World Liberty Financial, which is behind the USD1 stablecoin that is backed by Treasurys and dollar deposits.
Abu Dhabi’s MGX investment fund recently pledged $2 billion in USD1 to Binance, the world’s largest digital assets exchange. It’s the company’s largest-ever investment made in crypto.
In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss the EV/Solar killing bill moving forward, Elon lying about Tesla’s demand, cheaper EVs coming, and more.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
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Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET)
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This is what the future of travel will look like. Circle K opened its first location exclusively for EV charging in Europe. The site features ten ultra-fast EV chargers and a convenience store while you wait.
Circle K opens first EV charging-only site in Europe
The new EV charging hub is located in Gårda, near Gothenburg, Sweden. It’s Circle K’s largest EV charging-only location with ten 400 kW chargers that can recharge from 0 to 80% in around 15 minutes.
Kempower supplied two 600 kW Power Units and ten Single Satellite chargers that can deliver up to 400 kW of power.
With an improved version of Kempower’s Autocharge feature, the system can store your information so that the next time you visit, all you have to do is plug in. The system will recognize your vehicle and bill you automatically.
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While you wait, there’s a 1,076 ft² (100 m²) convenience store that offers “a complete retail experience,” offering food, drinks, Wi-Fi, and plenty of seating.
The site expects heavy traffic on Sweden’s E6, with over 10,000 vehicles travelling on the motorway daily.
Circle K opens its first EV charging-only site in Europe (Source: Kempower)
The new EV charging-only site comes after Circle K opened its largest EV charging hub in Sweden. Located just southwest of Stockholm, the flagship location has 26 fast chargers that can be used with light and heavy-duty vehicles.
Circle K now has over 3,000 branded chargers across Europe and will continue adding to its network as demand for EV charging rises.
Circle K’s largest electric vehicle charging hub in Sweden (Source: Circle K)
With around 17,000 locations globally, the company said it’s “uniquely positioned” to support the transition to electric vehicles.
Will we see Circle K open a location exclusively for EVs in the US? As more electric cars hit the road, more charging options will be needed. A few convenience stores, including 7-Eleven, are already rolling out fast chargers. Through 7Charge, 7-Eleven aims to build “one of the largest and most compatible” EV fast charging networks of any retailer in North America.
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