Tesla’s Electric Semi Production Set For 2026 Amid Financial Challenges

$TSLA

Tesla (NASDAQ:TSLA) has announced that the mass production of its all-electric Class 8 Semi truck is scheduled to begin in 2026 at its Gigafactory Nevada. This announcement came during the company’s first-quarter earnings report, which also highlighted a 20% year-over-year decrease in revenue, totaling $19.3 billion. The company’s adjusted earnings per share also fell by 40% compared to the same period last year, missing Wall Street’s expectations.

The Semi truck, which was initially unveiled in 2017 with plans for mass production by 2019. The delay in production has been attributed to various factors, including the need for further development and refinement of the truck’s design and production capabilities. The Semi is designed to have a range of up to 500 miles when fully charged and can carry a load of 81,000 pounds. It was initially priced at $150,000 for the 300-mile range version and $180,000 for the 500-mile range version.

Tesla’s overall vehicle production and delivery numbers also saw a decline, with a 16% decrease in vehicles produced and a 13% decline in vehicles delivered compared to the previous year. The company did not provide updates on its plans for a new factory in Monterrey, Mexico, which had been put on hold until after the US presidential election.

The financial results and the ongoing challenges with the Semi production highlight the complexities Tesla faces as it continues to innovate and expand its product line in a highly competitive market. The company’s ability to navigate these challenges will be crucial for its future growth and stability in the electric vehicle industry.

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