Tesla, Inc. (TSLA.US) officially announces the start of mass production and deliveries of the Semi electric truck, reiterating its target of 50,000 units per year.

On September 25, Tesla, Inc. (TSLA.US) announced the start of mass production and deliveries of the Semi electric truck. Tesla, Inc. executives previously said at the Sparks, Nevada factory that deliveries of the Semi to the first customers would begin this week, nearly nine years after Chief Executive Officer Elon Musk first unveiled the electric heavy-duty truck. The Semi is designed specifically for long-haul freight, expanding Tesla, Inc. from the electric sedan and SUV market into commercial freight, at a time when U.S. diesel prices have risen to record highs. On Thursday evening local time, Tesla, Inc. held a webcast event at the factory. The company did not disclose production plans or pricing for the Semi, but reiterated its plan to produce 50,000 Semis per year at the Nevada factory. Musk did not attend the event. In a recorded video, he said: "If you haven't ordered yet, I recommend you order more, but the waiting list is already quite long." Customers including PepsiCo, Inc., DHL and US Foods were invited on stage, and Semi trucks bearing these companies' logos were parked outside the venue for display. The Semi is designed specifically for long-haul freight. The long-range version can travel 500 miles (about 805 kilometers) on a single charge when fully loaded. Dan Priestley, Tesla, Inc.'s Semi truck engineering director, said: "This is 500 miles under real road conditions, and our customers have verified this." The standard version has a range of 325 miles (about 523 kilometers). The Semi first debuted in 2017 and was originally scheduled to go into production in 2019. The first Semi finally rolled off a high-volume production line in April, with mass production expected to begin this year. However, in a July letter to shareholders, Tesla, Inc. said the Semi would begin production in 2026, removing its earlier forecast of mass production this year. Tesla, Inc. began limited deliveries of the Semi in the United States to customers such as PepsiCo, Inc. at the end of 2022. Since then, project delays, intensifying competition and a reversal in U.S. electric vehicle policy have raised concerns about demand. Nevertheless, clean transportation nonprofit Catalyst Mobility said Tesla, Inc. received an order this week for 2,500 Semis from the world's largest freight company alliance, whose members include Microsoft Corporation and PepsiCo, Inc. The organization said the order is nearly twice the size of the existing U.S. fleet of Class 8 electric trucks. Last month, Swedish freight technology company Einride AB announced an agreement to add 500 Semi trucks to its fleet.