Musk says time to bring Tesla Semi truck to 'volume production'
Tesla’s Semi commercial truck is set to be brought up to “volume production’, something CEO Elon Musk confirmed to staff in an email sent out on Wednesday.
Tesla shares rose more than six per cent to hit $NZ1,560 on Wednesday after Reuters reported Musk’s email, making the Silicon Valley company the second-most valuable automaker in the world, behind Toyota. Tesla's share surge could position Musk for another payout from a stock compensation plan tied to the company's market capitalisation.
Investors also are anticipating Musk will unveil new "million-mile" battery technology that could deliver longer life, lower costs and better range for future Tesla vehicles. "Production of the battery and powertrain will take place at Giga Nevada," Musk wrote about the Semi. Most of the other work will probably take place in other states, he wrote, without stating where. Musk has said Tesla is scouting other U.S. states for a site to build a new factory, hinting that Texas could be a candidate. Oklahoma and other states are campaigning for the investment.
When Musk unveiled the prototype of the futuristic, battery-powered Semi in 2017, he said the Class 8 truck would go into production by 2019. More recently, he said the Semi would go into volume production by 2021.