Tesla has begun ‘high volume’ production of semi truck, Musk says

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk announced on Thursday that the company has commenced "high volume production" of its electric semi truck at a new facility in Nevada. The company has set a goal of producing 50,000 units annually. Tesla officially opened its factory in Sparks, Nevada, during an event held on Thursday evening.

The new facility marked the company's first dedicated factory for the semi-truck. Early customers for the electric semi include PepsiCo and U.S. Foods, with DHL also identified as a major customer. In a pre-recorded video at the event, Musk stated that future iterations of the semi-truck would incorporate Tesla's autonomous driving technology.

The waiting list for the truck was described as "already pretty significant" by Musk. He also cited the economic benefits of electric vehicles, pointing out that per mile costs for electricity are lower than for diesel fuel. This week, Tesla secured an order for 2,500 semis from a group of prominent cargo-shipping companies, including Microsoft and PepsiCo, according to data from transportation nonprofit Catalyst Mobility.

This order came shortly after Swedish freight tech firm Einride placed a separate order for 500 semis.