The announcement coincided with Tesla’s first-quarter earnings release, followed by a conference call with analysts. The company reaffirmed that the Semi remains on schedule for high-volume production next year, despite details not being discussed explicitly during the call.

In January, Tesla indicated that production of the Semi could start by the end of 2025, with mass production expected to follow in 2026.

The company has recently completed the roofing for the Semi factory in Reno and is preparing for the installation of manufacturing equipment in the coming months. The first high-volume units are projected to be produced later in 2025, with ramp-up beginning early in 2026.

Tesla first introduced the Semi in 2017, with initial plans for mass production by 2019. The electric truck was promoted as capable of traveling up to 500 miles on a single charge and having a load capacity of 81,000 pounds.

At launch, the Semi was priced at $150,000 for the 300-mile range version and $180,000 for the 500-mile version. However, the vehicle has faced multiple delays over the past three years, and only about 200 units have been delivered to clients such as PepsiCo.

Recent reports suggest that the Semi’s mass production could be delayed by an additional 28 months and that the price could increase significantly.

Tesla’s financial results for the first quarter showed revenue of $19.3 billion, down 20% from the same period last year. Adjusted earnings per share fell by 40% year-over-year to 27 cents, missing Wall Street estimates of $21.1 billion in revenue and 41 cents per share.

The automaker produced 362,615 vehicles during the quarter, representing a 16% decrease from the prior year, and delivered 336,681 vehicles, a 13% decline compared to the same quarter in 2024.

Tesla did not provide updates regarding its plans for a new factory in Monterrey, Mexico. The company has previously stated that the project is on hold until after the upcoming U.S. presidential election.

Currently, Tesla operates manufacturing facilities in Austin, Texas; Fremont, California; Sparks, Nevada; Berlin, Germany; and Shanghai, China. The company employs approximately 121,858 workers worldwide.