Tesla Inc (NASDAQ: TSLA) CEO Elon Musk has said that the electric car manufacturer’s long-waited trucking vehicles will commence as early as this year through into 2023. Musk indicated in a tweet that deliveries for the company’s 500-mile range semi-truck will commence this year, five years after its unveiling.
Tesla to introduce Cybertruck and 500-mile range semi-truck in 2023
The CEO earlier stated that the vehicle and Tesla’s pickup truck, the Cybertruck, would hit the road in 2023. According to Musk, the anticipated shipping date for the Cybertruck is still 2023.
Musk’s confirmation on the plans was in response to a tweet Musk had made linking the company’s Master Plan, Part Dueux, which was a report published in 2016 that, among other things, indicated that a passenger bus and electric semi-truck were being built by the electric carmaker.
Despite numerous production setbacks over the past three years, Tesla introduced the Cybertruck in 2019. With the company’s new production facility in Austin, Texas, in which the Cybertruck the company will build, officially opened, that is expected to ramp up.
The launch date has been postponed at least three times over the previous three years as legacy OEMs such as Paccar, Volvo, Mack, and Freightliner provide clients with various electric trucks. However, none have the 500-mile range anticipated by Tesla and Musk. BEV newcomer Nikola has also produced and shipped more than 50 vehicles; by year’s end, it hopes to have 500 on the market.
Tesla stock price has been volatile because of manufacturing problems
The share price of Tesla has fluctuated as a result of manufacturing problems. But following Musk’s announcement, investors responded favorably, and on Wednesday, the stock rose 1.6% to $861.68.
Musk made headlines on Tuesday night when he revealed that over the course of three days, he had sold $6.9 billion worth of Tesla stock in more than 120 different transactions. He reportedly sold shares in April for roughly $8.5 billion to pay for the purchase of Twitter ( TWTR ). He still owns almost 155 million Tesla shares.
Please make sure to read and completely understand our disclaimer at https://www.wallstreetpr.com/disclaimer. FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. Any content posted on our website is for educational and informational purposes only and should NOT be construed as a securities-related offer or solicitation, or be relied upon as personalized investment advice. WallStreetPR strongly recommends you consult a licensed or registered professional before making any investment decision. Neither WallStreetPR.com nor any of its owners or employees is registered as a securities broker-dealer, broker, investment advisor (IA), or IA representative with the U.S. Securities and Exchange Commission, any state securities regulatory authority, or any self-regulatory organization. WallStreetPR often gets compensated for advertisement services that are disclosed on our disclaimer located at WallStreetPR.com/Disclaimer.