Musk Says It's Time To Ramp Production Of Tesla Semi: Report

Tesla Inc TSLA CEO Elon Musk says it's time to bring its Semi commercial truck to “volume production,” according to a Reuters report quoting an email sent by Musk.

The email also states “production of the battery and powertrain will take place at Giga Nevada,” adding most of the other work will probably take place in other states.

No time frame was given for the production

Why It's Important: The Tesla Semi is an all-electric battery-powered Class 8 semi-truck in development by Tesla. Two concept vehicles were unveiled in November 2017 and production was estimated to take place in 2021.

Tesla was not available for comment when contacted by Benzinga.

Tesla's stock was trading up 5.8% to $996 per share in Wednesday’s pre-market session. The stock has a 52-week high of $968.99 and a 52-week low of $207.51.

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Photo courtesy of Tesla.