As if Elon Musk couldn't be more eventful, the Tesla TSLA CEO gave the automotive world more news to chew on.
Musk said last night that Tesla has begun the production of its long-awaited electric Tesla Semi truck, and that deliveries to Pepsi PEP would begin on December 1st. Musk said that the semi would have 500 miles of range and would be super fun to drive. Yahoo Finance reached out to Pepsi for comment, but the company has not responded back at this time.
It's been a long time coming for Tesla's semi. The truck was first unveiled in August 2017 by the company. It has been in various stages of development since then and has been seen in California trailering Tesla road cars from time to time.
In its last quarterly report in July, Tesla stated that the Semi was still in development, but in August Musk announced that the truck would go into production.
Musk said that Tesla would not be launching any new products this year, but this was before the passage of the Inflation Reduction Act. The tax credit can be up to $40,000 per commercial clean vehicle, meaning electric powered or hydrogen powered fuel-cell powered.
The tax incentive will be a big factor in making the truck cheaper for commercial operators, as the Tesla Semi is expected to cost around $150,000. The industry will soon be awash with electric semi trucks competitors known as Class 8 trucks with vehicles from Volvo, Daimler, and Nikola.
Pras Subramanian is a senior autos reporter for Yahoo Finance.