Tesla has announced plans to begin full production of its all-electric Class 8 Semi truck in 2026. The company initially introduced the Semi in December 2022, but mass production has faced several delays over the past two years. Tesla is currently working on building a Semi factory at its gigafactory in Reno, with pilot builds expected to start in the second half of next year and full production commencing in the first half of 2026.
During a recent earnings call, a Tesla executive mentioned that all major capital expenditures for the Semi program have been released, and the company is on track with its production timeline. Tesla CEO Elon Musk highlighted the strong demand for the Semi, noting that drivers prefer it over traditional diesel trucks due to its features like anti-jackknifing technology and potential full self-driving capabilities, which could significantly reduce driver fatigue.
In terms of financial performance, Tesla reported an adjusted earnings per share of 72 cents for the third quarter, surpassing analysts’ expectations of 58 cents. The company’s revenue for the quarter was $25.1 billion, reflecting an 8% increase from the same period last year, although slightly below Wall Street’s expectations of $25.3 billion. Tesla sold 462,890 passenger vehicles in the second quarter, marking a 6% year-over-year increase.
While Tesla has delivered about 200 Semi trucks to clients such as PepsiCo, there is no update on plans for a factory in Monterrey, Mexico. Musk indicated that these plans are on hold until after the U.S. presidential election due to potential tariff concerns on vehicles produced in Mexico.
