Tesla Announces New Semi Truck Trim Levels, Elon Musk Reaffirms Volume Production This Year

Tesla Inc. (NASDAQ:TSLA) has announced updates to the company's Semi truck, with CEO Elon Musk confirming that the EV giant would scale production this year.

Tesla Semi Trims

The automaker, on its official website on Sunday, shared that the Semi would be available in two trim levels: Standard and Long Range. The Standard trim gets up to 325 miles of range with an energy consumption of 1.7 kWh per mile and a gross combination weight of 82,000 lbs.

The Long Range trim features similar specs, but has an increased curb weight of 23,000 lbs — likely due to a larger battery — and offers a range of 500 miles. Both trims can recover 60% of driving range from a 30-minute charge, Tesla says.

Elon Musk Confirms Production Ramp

In a post on the social media platform X on Sunday, Musk confirmed that the Semi production was going to be ramped up. "Tesla Semi starts high volume production this year," Musk said in the post.

Tesla's Semi Deliveries

The automaker had delivered the first unit of the Semi to German multinational logistics company DHL, with the company saying that the truck is operating within California and travels 100 miles per day, requiring charging once a week.

Tesla had also struck a deal with ride-hailing giant Uber Technologies Inc.‘s (NYSE:UBER) Freight division, with Tesla's Director of Semi Program, Dan Priestley, hailing the deal as a driver for EV adoption among various companies, touting it as a move that would help "operators realize the cost and maintenance benefits Semi offers."

Benzinga Edge Rankings show that Tesla scores well on the Momentum metric and offers a favorable price trend in the Long Term.

Price Action: TSLA surged 3.50% to $411.11 at market close on Friday, further gaining 0.66% to $413.83 during the overnight session.

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