Elon Musk is set to reintroduce the Roadster sports car, possibly equipped with SpaceX thrusters

The revamped version of the Tesla Roadster sports car was first introduced to consumers in late 2017. Now, Elon Musk is preparing to show it off once again.

For years, Elon Musk has been talking about selling customers a Tesla car that would be capable of lifting off the ground. On Thursday, he's finally set to reveal what the company has been cooking up.

Tesla (TSLA) has scheduled a launch event for the Roadster 2.0, an all-electric sports car, to kick off at 8:55 p.m. Eastern time on Thursday. The invite-only event will be held in Texas and will also be livestreamed, according to the company.

"New Roadster is beyond movies, beyond imagination, beyond human, yet still made by humans on Earth," Tesla CEO Musk wrote in a post on X on Thursday.

The Roadster was first unveiled alongside Tesla's new Semi truck in November 2017, with production scheduled for 2020. But the company repeatedly delayed the vehicle, with Musk outlining several new targets and timelines that were missed. In 2026 alone, a demo was pushed back multiple times, most recently from an Oct. 1 debut, with Tesla citing "high winds."

"The long wait has been real, patience has been tested, but the interest in what they're planning to deliver hasn't gone away," said Ken Kaczmarek, a longtime Tesla investor who told MarketWatch he placed a reservation for the Roadster the month it was first revealed.

Kaczmarek called the sports car "absolutely gorgeous," and said that after learning about the Roadster's planned performance, he didn't care if it ran on gas, electricity or "fairy dust." His reaction, he added, was that "it's impressive - shut up and take my money."

The new Roadster has been described by Tesla and Musk as likely one of the most powerful cars ever made. Musk has said the reimagined version of Tesla's first-ever electric vehicle could have a top speed above 250 miles an hour, drive 620 miles on a single charge and accelerate from a standstill to 60 miles an hour in less than a second.

One of Musk's key promises is that the Roadster will be capable of hovering in the air. He's alternatively described the Roadster as possibly capable of "short hops," levitation and outright flight. That would be enabled by an optional package featuring around 10 small cold-air rocket thrusters designed by SpaceX (SPCX), Musk's other public company, according to the billionaire.

"If the Roadster doesn't fly tomorrow, it will be a big disappointment. I do not think anyone will be disappointed," Kaczmarek told MarketWatch. He added that the Roadster will reveal a "real synergy" between Tesla and SpaceX.

Some analysts expect SpaceX and Tesla to merge in the future, although the timing of that isn't obvious. Barclays analyst Dan Levy said in a client note that the merger could be announced before Tesla's annual meeting, likely to be held in December.

Tesla shares were down 2% in recent action on Thursday. The shares are down 20% so far this year, making them the worst performer among the "Magnificent Seven" group of major technology stocks, according to FactSet data. Tesla is the only Magnificent Seven stock in the red for 2026.

It's unclear whether the Roadster will be able to help turn things around for the stock. CFRA analyst Garrett Nelson told MarketWatch last month that he was skeptical the Roadster "will do much" to enthuse investors, and the car isn't expected to be a major financial driver.

The Roadster is what analysts have referred to as a "halo car," or a showcase of the company's engineering prowess. Just a few thousand cars are expected to be sold each year, with initial deliveries likely going to the people who began reserving their spot in line close to nine years ago.

In 2017, Tesla said it would sell 1,000 special "Founders Series" models, each of which required buyers to put down a total $250,000 to lock in their reservations. It also took reservations for regular Roadsters, each of which had a starting price of $200,000 and required a $50,000 deposit.

Last month, the company reopened reservations, asking for an initial $5,000 payment and another $45,000 to be paid within 10 days. It's unclear how much Tesla will ultimately ask for the Roadster or how much optional features, such as the SpaceX package, could cost buyers - some of whom decided not to stick around and find out.

Several people have asked Tesla to refund their years-old reservations, including OpenAI CEO and Musk rival Sam Altman and the popular tech YouTuber Marques Brownlee.

Others, however, are headed to Texas for Thursday's event.

"There is only 1 place I want to be on 10.15. Can't wait to be a human witness to prove the Roadster demonstration isn't [superintelligence]," Brian Roberts, a general partner at the venture-capital firm Andreessen Horowitz , wrote on X. Roberts posted a photo of a Roadster reservation confirmation email, dated Nov. 30, 2017.

-William Gavin