Tesla opens redesigned Roadster reservations in China with $49,390 deposit, targets 2028 production

• Reservations in China require a 332,000 yuan ($49,390) deposit, with the website describing the Performance version as suitable for public roads.
• Musk targets production in 2028; the Rocket configuration capable of aerial stunts is available by invitation only.

Tesla (NASDAQ: TSLA) unveiled its redesigned second-generation Roadster sports car, with its Chinese website now accepting reservations for the Performance version and production of the long-delayed model targeted for 2028.

Customers in China must pay a reservation deposit of 332,000 yuan ($49,390), which the website lists as fully refundable. The deposit is not the vehicle's price, and Tesla has yet to announce final pricing.

The Chinese website requires payment within 10 days, with reservations considered complete only after Tesla receives the funds. It also notes that any difference in the deposit resulting from order changes will not be refunded.

By comparison, the US website requires an initial payment of $5,000, followed by another $45,000 within 10 days, for a total of $50,000. Reservations may be canceled if payment is not completed on time.

The unveiling took place on Thursday, October 15, at SpaceX's testing facility in McGregor, Texas, corresponding to October 16 in Beijing.

The demonstration vehicle used suction fans and cold-gas thrusters to drive up a curved ramp before flipping through the air and landing. It also jumped over a lineup of Tesla vehicles, including the Semi truck.

However, the Performance version currently available to reserve in China does not include the full flight system, and the aerial stunts demonstrated at the event should not be taken as capabilities of that version.

According to Tesla, the Performance seats 2 and features active aerodynamics and a multi-mode suction system, with a 0-60 mph (96 km/h) acceleration time of under 1.6 seconds.

The Chinese website describes it as suitable for public roads, while noting that its eventual availability in a given market remains subject to the laws and regulations in force at the time.

The US website also lists Thrust and Rocket upgrade packages for the Performance, aimed at track driving and flight-capable applications, respectively.

Thrust retains the 2-seat layout and adds rear-mounted cold-gas thrusters, with a claimed 0-60 mph time of under 0.9 seconds. It will be offered in limited numbers.

Rocket has a single-seat layout and uses thrusters around the vehicle to generate upward thrust and control its orientation in the air. It is available by invitation only and has not been approved for use on public roads.

The cold-gas thrusters, developed jointly by Tesla and SpaceX engineers, generate thrust by releasing pressurized gas without burning fuel. The suction fans draw air from beneath the car to increase downforce and grip.

Musk set a 2028 production target for the Roadster at the event but gave no specific timeline. Delivery plans for China have yet to be announced.

Tesla first showed a second-generation Roadster prototype in 2017 and initially planned to begin production in 2020, before repeatedly delaying the timeline. The newly unveiled vehicle features a redesigned exterior and interior.

The high-end sports car gives Tesla an opportunity to showcase its engineering capabilities and draw attention to the brand, though its contribution to sales and earnings may be limited.

The Roadster could generate enthusiasm, but its high price and limited addressable market mean it is unlikely to materially change Tesla's sales or earnings outlook, Bloomberg reported, citing Andrew Rocco, a stock strategist at Zacks Investment Research.

The unveiling comes as Tesla's domestic deliveries in China remain under pressure.

The US EV maker delivered 64,837 vehicles in China in September, down 9.35% from a year earlier, marking its fourth consecutive monthly year-on-year decline, according to data compiled by CnEVPost.

In the first 9 months of the year, Tesla delivered 381,088 vehicles in China, down 11.93% year-on-year.

Growing exports from its Shanghai factory have supported overall wholesale sales but have yet to reverse the decline in domestic deliveries.