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Tesla to unveil new product on Oct. 17


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Tesla founder Elon Musk said Monday the electric car maker will announce a new product on Oct. 17. 

Musk, who's also the company's chairman and CEO, didn't elaborate on his announcement, issued on Twitter, but said the product is "unexpected by most." Tesla couldn't immediately be reached for comment.

Tesla previously announced plans to unveil on Oct. 28 a new solar roof that was jointly produced with SolarCity, the solar energy product developer that Tesla agreed to buy earlier this year for $2.6 billion. Musk said the unveiling is on schedule and shot down speculation that the companies, burning through cash, will need to raise equity or debt in the fourth quarter. "Won't be necessary for either," he tweeted.