Full production of the long-delayed truck won’t begin until 2024, and expansion of...
CEO Elon Musk told investors this week the company will start producing the truck this summer and ramp up to full production by 2024.
Tesla has begun installing production equipment at the Austin-area manufacturing plant, both for general assembly lines and body shops. The updates came as Tesla posted fourth-quarter net profit of $3.7 billion, a 59 percent increase from the same time a year ago. It also posted record revenue. The gains come after a year of slipping margins and price cuts on some vehicles that analysts say are signs the company’s sales are softening.Tesla moved to Central Texas from Palto Alto, Calif., in 2021.
As demand, sales and stock prices dropped, Musk in late May described the gigafactories in Austin and Berlin as “money furnaces” losing billions of dollars because supply issues were limiting production growth.Despite ‘supply chain hell,’ Musk says production about to grow at Gigafactory Texas
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