On Wednesday, June 10th, 2020, Tesla shares went up past $1000 after Reuters reported that an email of Elon Musk leaked saying that he told his staff it was time to bring the Tesla Semi commercial truck to “volume production.”
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There wasn’t a specific time frame given for when Tesla was going to start ramping up production of the Tesla Semi but Elon did respond “yes” to a question on Twitter asking if the leaked report was true.
That “yes” caused Tesla shares to rise 6% which made it the second-most valuable automaker in the world, following Japan’s Toyota Motor Corp. The surge of shares has placed Elon in the position for a big payout from a stock compensation plan he has tied to Tesla’s market capitalization.
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The email also talked about Musk unveiling soon new “million-mile” battery technology for future Tesla vehicles that have a longer lifespan, costs less, and goes a father distance.
Reuters reported that Elon’s email said, “Production of the battery and powertrain will take place at Giga Nevada,” and most of the other work will take place in various other states, though, he did not specify.
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He’s currently looking for a site to build a new factory and hinted that there’s potential it will be in Texas. Oklahoma and other states are also asking Elon to build the factory in their state. The battery-powered Tesla Semi was first revealed in 2017 and he said the Class 8 truck would go into production in 2019. Now he’s saying the truck will go into volume production by 2021.
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