Tesla (TSLA) announced that full production of its Class 8 electric truck "Semi" will begin in 2026 at its Gigafactory in Nevada, USA.
This announcement came during the company's earnings report for the first quarter of the current year and the subsequent conference call. Although CEO Elon Musk and other officials did not directly address the "Semi" truck during the call, the company confirmed in its report that the truck is still on track to begin mass production next year.
Previous statements from Tesla officials back in January had indicated the possibility of starting "Semi" production by the end of 2025, with mass production expected to commence at some point in 2026.
Travis Acklerod, Tesla's head of investor relations, revealed in January that the foundational construction of the "Semi" factory in Reno was complete, and preparations were underway to install equipment in anticipation of beginning initial production of the final truck design by late 2025, followed by a gradual increase in production in early 2026.
It is noteworthy that Elon Musk first revealed the "Semi" truck in 2017, with mass production originally slated to start in 2019; however, the process has been delayed multiple times. Tesla has marketed its electric truck with a driving range of up to 500 miles on a single charge and a payload capacity of up to 81,000 pounds.
Initial pricing for the models back in 2017 ranged between $150,000 and $180,000. So far, around 200 "Semi" trucks have been delivered to select customers, such as PepsiCo.
This announcement comes at a time when Tesla reported a 20% decline in first-quarter revenue year-over-year, a 40% drop in adjusted earnings per share, as well as a 16% and 13% decrease in vehicle production and delivery, respectively. The company did not provide any updates regarding its factory plans in Mexico.
