Tesla shares are experiencing a decline today due to a combination of factors, including an NTSB investigation into a Tesla Semi truck crash and the delayed rollout of its Full Self-Driving (FSD) technology for the Cybertruck. This news comes as Tesla prepares to ramp up production of the Semi and further fuels concerns about the safety and reliability of its newer models.
Tesla Inc. (TSLA) has announced a timeline for the production of its electric semi-truck, with the first vehicles expected to roll out by 2026. According to Vice President of Vehicle Engineering, Lars Moravy, the engineering for the Tesla Semi is being finalized to enable high-volume production. The construction of a factory in Reno is underway, with the first ‘external customers’ expected to receive their vehicles in 2026.
Tesla’s Semi truck, despite its initial hype and pre-orders from major corporations like Pepsi and UPS, has underperformed expectations. Only 36 units have been delivered to Pepsi, while Tesla has prioritized using the trucks for company use. Other companies, frustrated by the delays, have turned to competitors like Freightliner. Tesla has cited battery constraints and production issues as reasons for the setbacks, but has promised increased production in 2024. The company is now expanding its Giga Nevada factory to build Semi trucks, and future European deliveries will come from Giga Berlin.
