Elon Musk Plugs Tesla's New Truck Even as Model 3 Faces Delays

Tesla shares the next day soared 4%--the kind of pop that continues to fuel Tesla's stock run this year as expectations build for Mr. Musk to fulfill his vision of a world complete with electric self-driving vehicles. Similarly, Mr. Musk was touting plans for the Model 3 while Tesla struggled to ramp-up manufacturing of the Model X in 2015, and last year he hosted a flashy event laying out his vision for making solar-panel roofs sexy. "It's exceptionally clear that over time, product announcements have helped to bolster the stock and cover up shortfalls in deliveries or manufacturing issues," said Mike Ramsey, an industry analyst for Gartner Inc. The showman's latest flourish comes as Tesla runs low on cash and struggles to mass-produce the Model 3, a $35,000 sedan that is the cornerstone of Mr. Musk's plan to transform Tesla from being a niche luxury player to a mainstream auto maker. Tesla has fallen behind its production goals for the Model 3 during the early manufacturing period that Mr. Musk has termed "production hell."