Tesla will Showcase Electric Semi-Truck at November 16 Event

Tesla will Showcase Electric Semi-Truck at November 16 Event

Tesla Motors has sent invitations for unveiling of electric semi-truck on November 16. The event was earlier planned in October but the company had to push it to November 16 due to production bottlenecks. The event will be held in Hawthorne, California. Tesla recently informed that the company could start production of electric trucks within two years.

After electric cars, automobile companies are now working on electric trucks as well. Volkswagen announced $1.7 billion investment in development of electric trucks and buses. Cummins recently shared prototype of its electric truck. Last week, Daimler shared electric truck concept vehicle with 220 miles range. Commercial vehicle segment could offer much better margins and sales for automobile majors.

Tesla has been running behind schedule for its mass-market vehicle Model 3. As the company faced production issues, Tesla CEO Elon Musk informed last month that the company could miss some of its targets for Model 3 production.

Tesla stock declined after the company reported larger-than-expected loss during the latest quarterly results. Market analysts and investors have become doubtful about Tesla reaching its production targets for Model 3. The production increase for Model 3 is also impacting other Tesla projects.