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Tesla Inc (NASDAQ: TSLA) CEO Elon Musk tempered expectations on the automaker’s cell and electric truck production numbers.
What happened: The executive revealed that the company was “too cell-constrained” in response to a question related to the Tesla Semi on Twitter.
We’re too constrained in cells right now, but probably fine next year
– Elon Musk (@elonmusk) March 27, 2021
In January, during the company’s fourth quarter results, Musk said the reason Tesla hadn’t ramped up new products like the Semi is “we just don’t have enough cells.”
Why is this important: Scaling the Semi depends on producing more than 4680 cells. Tesla is installing capacity to produce 200 gigawatt hours per year next year, Musk said on the same earnings call.
Deliveries of the Plaid Plus S, another vehicle using 4,680 cells, have also been postponed to mid-2022.
Currently, the company only manufactures the new cylindrical batteries at its pilot plant in Fremont, and volume production is not expected to increase until it begins manufacturing them at its Texas Gigafactory, Electrek reported.
This year, the battery supplier Tesla Panasonic Corporation (OTC: PCRFF) (OTC: PCRFY) will set up a prototype production line to manufacture the 4680 cells.
Price action: Tesla shares closed nearly 3.4% at $ 618.71 on Friday and gained 0.42% in the after-hours session.
Click on here to check out Benzinga’s EV hub for the latest news on electric vehicles.
Photo: Courtesy of Tesla
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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