Tesla Talks Trucks, Battery Production
Tesla recently released their Q3 2022 financial results - and in the following earnings call, CEO Elon Musk outlined the highlights of the company's progress.
As usual the earnings call covered a wide range of Tesla's activities in the last quarter, but the big standouts were an update on 4680 battery cell production, and future plans for the Tesla Semi production ramp-up.
4680 cell production exploded this year, due mainly in part to second-generation equipment being installed at Giga Texas. Overall, Tesla tripled 4680 output this quarter compared to the previous one - great news considering a lot of Tesla's future production depends on the new battery type.
Elon seemed relieved that the 4680 was finally gaining speed. The predictions are that production in Q4 will grow to over 1000 car battery packs per week - and Tesla's focus will be starting to shift from production ramp-up to cost reduction and expansion of the production capacity of the battery cell in North America.
And speaking of future plans, Elon also talked about the ramp-up of the Tesla Semi.
The EV company recently announced the official start of production - again - to excited fans, with plans to use a small production line they had set up near GigaNevada to begin building the large vehicles until Tesla could accommodate higher volume production at GigaTexas.
Well, in the earnings call, we got a better description of future plans for that ramp-up - and when Elon thinks it'll be achievable.
"It takes about a year to ramp up production. So, we’re tentatively aiming for 50,000 units in 2024 for Tesla Semi in North America."
50,000 units is a high goal - it would make Tesla one of the largest class 8 truck manufacturers. But considering the volume Tesla is capable of with their other vehicles - and that the Semi isn't constrained by the need for 4680 cells - 50,000 trucks produced by 2024 is likely do-able.
So that's all pretty exciting. Tesla has worked very hard this year to get production of the 4680 going, and having to push through shutdowns in multiple factories hasn't helped. But with the Tesla Semi finally being built, and production overall ramping-up steadily, the next couple of quarters are likely to be very interesting.