Tesla CEO, Elon Musk stated that deliveries for the company’s long-awaited trucking models would begin this year and continue through 2023.
Tesla’s 500-mile range semi-truck will begin deliveries this year, Musk said in a tweet, five years after its official unveiling.
The CEO previously stated that the model, along with Tesla’s pickup truck, would hit the road in 2023. Musk said on Wednesday that the Cybertruck’s expected delivery date is still next year.
Tesla 500 mile range Semi Truck starts shipping this year, Cybertruck next year
— Elon Musk (@elonmusk) August 10, 2022
Tesla unveiled the Cybertruck in 2019, but delays have plagued production over the last three years. This is expected to increase now that the company has opened its new manufacturing facility in Austin, Texas, where the Cybertruck will be manufactured.
Tesla stock has suffered as a result of the production delays, causing the share price to rise or fall. However, investors reacted favorably to Musk’s update, sending the stock up 1.6% to $861.68 on Wednesday.
Musk also made headlines Tuesday night when he revealed that he had sold $6.9 billion in Tesla stock in more than 120 separate transactions over three days. He sold shares worth approximately $8.5 billion in April, presumably to fund his acquisition of the social media platform Twitter ( TWTR ). He still owns approximately 155 million Tesla shares.
Source: Barrons
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