Tesla to start truck production by 2020: Report

By AutoFOXBusiness

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Tesla is set to begin producing its fully electric semitractor-trailer trucks by 2020, according to a new report.

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That information came from Martin Viecha, head of Tesla’s investor relations, during a tour given to investors last month. Two investors from Worm Capital recounted the tour of the company’s Nevada Gigafactory in a blog post, where Viecha said Tesla would look to begin exporting Model 3s internationally next year and begin “earnestly” producing semitractor-trailer trucks by 2020.

CEO Elon Musk had previously said the company would begin production in 2019.

A slew of companies have already placed orders for the yet-to-be-produced truck. In December, PepsiCo reserved 100 of the new electric vehicles. In March, courier giant FedEx said it ordered 20 of the trucks.

Walmart, UPS and Sysco have also placed preorders.

Tesla unveiled the fully electric trucks in November, which will cost between $150,000 and $180,000.

Musk said he expects to produce up to 100,000 of the electric trucks per year.

The new vehicles are expected to use many of the same parts as the Model 3, Musk said during a conference call last year, including the motors.

However, Tesla has faced some production challenges concerning its Model 3 sedan, which is critical to the company’s plan to bring electric vehicles to the mass market. Last quarter, the company reached a goal of delivering 5,000 Model 3 sedans per week. And despite rumors the company is falling short of the current quarter’s production goals, Musk said on Monday the automaker is on track “to have the most amazing quarter in our history.”