Tesla CEO Elon Musk confirms first minibuses and trucks to arrive in 2017

4 Aug 201626 Shares

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The new classes of Tesla vehicles will screech off the assembly lines in early- to mid-2017

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Tesla will produce its first minibus and semi-trailer truck products in 2017, CEO Elon Musk confirmed as the company reported $1.3bn in second quarter earnings.

Meanwhile, the company continued to make losses of $293m during the quarter.

It spent $295m in capital expenditure to increase production, expand customer support and construction of its massive Gigafactory.

Tesla said it is now producing 2,000 vehicles per week and is on target to deliver 50,000 vehicles in 2016.

It said that, with the addition of Model X orders, total Q2 new vehicle orders rose 67pc.

In the second quarter, it delivered 14,402 new vehicles, consisting of 9,764 Model S saloon and 4,638 Model X SUV units.

Looking ahead to Q3 and Q4, Tesla said it will be adding new stores in population-dense markets like Taipei, Seoul and Mexico City, as well as in mature markets like California.

Sticking to the Elon Musk master plan

In recent weeks, Tesla founder Elon Musk revealed his master plan for the next decade, which would see Tesla become just as famous for its solar energy products as its transport products.

Included in the plan was the objective of rolling out the first Tesla-powered minibuses and trucks.

Following the earnings results last night, Musk confirmed that the new vehicles will screech off the assembly lines in early-to-mid 2017.

“We expect to unveil those for the middle of next year, maybe the next six-to-nine months type of thing. And then we’d have a better, more fleshed-out plan for when those would enter production,” Musk said.

Tesla image by Hadrian via Shutterstock

Editor John Kennedy is an award-winning technology journalist.

editorial@siliconrepublic.com