Tesla executives announced that the company intends to commence full production of its all-electric Class 8 Semi truck in 2026. The electric vehicle manufacturer, which first unveiled the Semi in December 2022, has encountered several delays in its mass production plans over the past two years. "We are making rapid progress on constructing a Semi factory at our Gigafactory in Reno," stated an unnamed Tesla executive during a conference call with analysts to review third-quarter earnings. "We have allocated all significant capital expenditures for this program and are on schedule to begin pilot builds in the latter half of next year. Full production of the Semi is slated to commence in the first half of 2026 and continue throughout the year."

Headquartered in Austin, Texas, Tesla's (NASDAQ: TSLA) adjusted earnings per share rose by 9% year-over-year to 72 cents, surpassing analyst expectations of 58 cents per share. The electric automaker reported revenue of $25.1 billion, an 8% increase from the same quarter last year, slightly missing Wall Street's quarterly revenue forecast of $25.3 billion. In the second quarter, Tesla delivered 462,890 passenger vehicles, marking a 6% year-over-year increase.

Tesla officials confirmed that approximately 200 Semi trucks have been delivered to customers, including PepsiCo. They also noted that the deployed Semi trucks are equipped with cameras and sensors that could enhance vehicle capabilities.