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Tesla Finally Begins Delivering Its Semi Truck After Years Of Delays, Design Changes And Big Claims

Tesla is finally handing over the first of its all-electric Semi trucks to customers, nearly a decade after the vehicle was first unveiled in 2017 and years after it was initially expected to enter production.

At an event in Reno, Nevada, on Thursday night, Tesla executives — with CEO Elon Musk notably absent because he was attending a state dinner with President Trump and Chinese Premier Xi Jinping — walked customers, employees and influencers through the truck’s latest specifications and production plans. The company also shared an update on the Semi through its official X account: Tesla Semi.

A Long Wait, And A Delayed Rollout

Customers will be able to take delivery of the truck whenever they are ready, though charging infrastructure remains a meaningful obstacle, according to a person familiar with the matter who spoke to TechCrunch on the condition of anonymity.

Tesla did not disclose the final sticker price, but executives said the Semi is designed to lower total cost of ownership for fleet operators while cutting emissions and improving reliability. The company has said the most capable version should travel 500 miles or more on a single charge, depending on payload, and is expected to cost just under $300,000 before incentives. Shorter-range versions will also be offered.

The event took place at a new factory dedicated to the Semi, located next to Tesla’s first Gigafactory in Reno. Tesla says the facility could eventually produce as many as 50,000 trucks annually, or roughly 1,000 per week, and create about 3,000 jobs in the local economy.

From EV Truck To Strategic Pivot

The Semi’s long-awaited launch arrives during a broader transition for Tesla. Musk increasingly describes the company as an AI and robotics business, even though the vast majority of its revenue still comes from vehicle sales. He has also updated Tesla’s mission to “build a world of amazing abundance.” When the Semi was first introduced in 2017, Tesla’s mission statement was still “to accelerate the world’s transition to sustainable energy.”

Despite that shift in branding and emphasis, Thursday’s presentation still leaned heavily on the environmental case for electrifying freight. Dan Priestley, who heads Tesla’s Semi program, noted that heavy trucks account for 16% of emissions while representing just 1% of vehicles on the road.

“We’re super excited to be deploying these into our own operations because it’s fulfilling the mission that we originally started out [with],” he said.

Inside The Engineering Changes

The Semi was originally scheduled to reach production in 2019, but the program was delayed by the pandemic, global supply-chain disruptions, semiconductor shortages and design revisions driven by feedback from pilot customers.

Priestley and Lars Moravy, who oversees much of Tesla’s engineering work, outlined several of those changes during the roughly 30-minute event. The demonstration was timed to show a Semi’s battery charge rise from 3% to 60% while connected to one of Tesla’s megawatt charging stations. Tesla is also developing a broader charging network to support the truck, Priestley said.

Some changes are significant and easy to see. Tesla has reduced the vehicle’s weight by about 1,000 pounds compared with the original version. Other changes are more technical but no less important. For example, the Semi’s drive axle originally required three different oils; now it uses just one.

Moravy said the previous axle setup had “always frustrated” him and acknowledged that Tesla sometimes favors highly customized engineering solutions. Priestley said changes to the motor design, along with work from Tesla’s lubricants team, allowed the company to eliminate the other two oils.

“Occasionally we get a little too far out there,” he said. Tesla also revised the side-window design after early versions used pop-out windows that did not fully open, a flaw that drew criticism from truck drivers and automotive reviewers alike. Priestley admitted the original approach was “not sufficient” and said the production Semi now uses standard roll-down windows.

“We fully admit we were wrong about the windows,” he said. “Turns out there’s a lot of infrastructure in the world, whether it’s a badge reader, or your toll booth, or you’re talking to somebody on a call box. There’s all kinds of stuff right at that height, and it became evident that we needed a roll-down window in order to make that infrastructure easier to interface with.”

“It’s okay to be wrong, Dan,” Moravy added.

Proving The Critics Wrong

One of Tesla’s boldest claims from the original 2017 reveal was that the Semi could travel 500 miles on a single charge while fully loaded. That claim drew years of skepticism. Among the most prominent critics was Bill Gates, who wrote in a 2020 blog post that electric big rigs would “probably never be a practical solution” because batteries are too big and heavy.

Without naming him directly, Moravy and Priestley appeared to take a swipe at those doubters during Thursday’s presentation. Priestley emphasized Tesla’s focus on efficiency, explaining that every watt-hour saved has a compounding effect: less energy required means a smaller battery, lower cost and less weight.

“We had some naysayers, names shall not be mentioned,” Moravy said.

“But, pretty well-known names,” Priestley replied.

“And at Tesla, we love when people tell us something’s impossible. So we took that challenge,” Moravy said.

Musk Promises More Automation Ahead

Although Musk did not attend in person, he did appear in a prerecorded segment that aired before the event began. In the video, he said the Semi would be the “funnest truck to drive” and said Tesla’s partial automation features, which were notably absent from the vehicle despite years of delays, would be added in the “near future.”

He also argued that the truck makes “a ton of sense economically, because the cost of electricity per mile is much less than the cost of diesel, especially in these crazy times.” The comment glossed over the fact that diesel prices have also been affected by geopolitical tensions and energy-market volatility.

For Tesla, the Semi is more than another product launch. It is a test of whether the company can turn one of its longest-promised vehicles into a credible commercial platform at scale. After years of delay, redesign and skepticism, that test has finally begun.

ECB Moves to Ease Rules for Smaller Banks Without Weakening Supervision

The European Central Bank is preparing a significant broadening of proportionality in banking supervision, a move that could bring roughly 150 additional smaller institutions into a lighter regulatory framework, according to ECB Executive Board member Frank Elderson.

In a post on the ECB’s supervision blog, Elderson, who also serves as vice-chair of the Supervisory Board, said the goal is to reduce the regulatory burden on small and non-complex institutions while preserving the safeguards that support financial stability.

A More Flexible Approach To Supervision

Rather than creating a separate rulebook for smaller lenders, the ECB’s proposals would expand the existing framework for small and non-complex institutions, or SNCIs, by broadening eligibility and easing the frequency and intensity of certain supervisory tasks.

Elderson argued that Europe’s varied banking sector is a strategic strength. Smaller, locally focused banks, he said, play a critical role in financing households and small and medium-sized enterprises, which in turn supports innovation, employment and investment across the region.

“These institutions play an important role in financing households and small and medium-sized enterprises, helping innovative ideas become successful products and supporting jobs and investment across the region,” Elderson wrote.

He added that a banking system combining different business models, sizes and areas of expertise is better positioned to meet the financing needs of the European economy and, by extension, support competitiveness.

Why Proportionality Matters

The ECB’s approach rests on a simple principle: regulatory requirements should be calibrated to a bank’s size, complexity and risk profile.

At the same time, Elderson cautioned that smaller banks are not insulated from the pressures facing the wider financial system. He pointed to geopolitical risk, cyber resilience in the era of advanced artificial intelligence, digitalisation and climate- and nature-related risks.

“Depositors in smaller banks should be just as confident that their savings are safe and their bank is well managed, resilient and subject to robust risk management standards as those in larger institutions,” he wrote.

The central bank believes a more targeted framework would allow smaller lenders to devote more resources to the risks that matter most, while trimming compliance work that adds cost without materially improving resilience.

A Wider Definition Of Small Banks

The most consequential proposal would broaden the definition of what qualifies as a small bank.

Today, the SNCI framework covers 75% of all less significant institutions under European banking supervision, representing more than 1,400 entities as of December 2025.

Under the ECB’s proposal, national authorities would be able to lift the current €5 billion total-assets threshold for SNCI status to as much as €10 billion, depending on the size and structure of domestic banking sectors.

The ECB also wants the definition of “non-complex” to better reflect how banks operate in practice. Elderson noted that some institutions, especially in smaller member states, fail to qualify as SNCIs because of technical features in their recovery and resolution arrangements, even when they are not complex from a resolution standpoint.

Taken together, the changes could result in as many as 85% of less significant institutions being classified as SNCIs, bringing about 150 additional banks into the lighter framework.

The ECB also wants the SNCI label to be used more consistently in future European banking legislation, with new and amended rules spelling out more clearly how they apply to smaller and non-complex institutions.

Less Frequent Supervisory Reviews

The changes would not stop at classification. The ECB is also proposing a more selective approach to supervision itself.

The Supervisory Review and Evaluation Process, or SREP, could be carried out less frequently for some institutions. Elderson said certain banks might go two to three years without a full SREP if their risk profile justifies that approach.

That flexibility would remain subject to supervisory judgment, meaning banks could still face more frequent scrutiny if their risk warrants it.

“Where risks are low, some supervisory assessments will in practice be carried out even less frequently, reducing the burden on banks without undermining supervisory effectiveness,” Elderson wrote.

The ECB is also seeking to reduce the burden of stress testing. Bottom-up stress tests, in which banks run their own projections and submit them to supervisors, would be used only selectively for SNCIs. Supervisors would rely more heavily on top-down exercises, with projections carried out centrally.

That shift could meaningfully reduce the workload for nearly 1,000 SNCIs that are still subject to bottom-up stress tests.

Reporting Could Be Cut Dramatically

Reporting is another area targeted for simplification.

The ECB said its systems have already been adapted to support a materiality threshold for reporting resubmissions once the relevant legislative changes are in place.

A new SNCI category is also set to be introduced into the ECB’s FINREP regulation from 2027, beginning with a public consultation.

Under the proposed revisions, the volume of financial reporting required from SNCIs could fall from around 13,500 data points to roughly 700.

Updates to the European Banking Authority’s technical standards on supervisory reporting are also expected to remove redundant templates, eliminate overlaps and exempt SNCIs from certain reporting requirements.

More Flexibility On Governance

The ECB is also pushing for a more proportionate approach to governance requirements.

Supervisors would make greater use of existing flexibility to reflect a bank’s risk profile and operational complexity.

That could allow certain committees to be merged, including nomination and remuneration committees, while functions such as risk management and compliance could also be combined where appropriate.

The proposals would also create more room for flexibility around pay rules, including possible exemptions from requirements to defer variable remuneration or pay it in financial instruments.

Periodic independent reviews of remuneration policies could also be outsourced and applied in line with the sophistication of a bank’s internal stress-testing framework.

Why Smaller Markets Stand To Benefit

The proposals may be especially relevant to smaller European banking markets, even though the ECB has not identified which national authorities would choose to raise the €5 billion threshold.

Cyprus, for example, has a relatively small banking market and its domestic institutions fall under the European banking supervision framework. Any decision to apply the higher SNCI threshold would therefore depend on the applicable rules and supervisory assessment.

Elderson was explicit that the changes should not be read as a weakening of core safeguards.

“Proportionality should not be mistaken for reducing prudential standards for smaller banks,” he wrote. “The aim is not to lower standards, but to achieve them in a more efficient and proportionate manner.”

The ECB also said any simpler regime for smaller banks must be matched by a credible, flexible and efficient crisis management framework.

In Elderson’s view, trimming administrative overhead would free up scarce resources for risk management, customer service, investment in competitiveness and operational efficiency.

“By reducing undue complexity and the administrative burden for small and non-complex banks, these measures can support the competitiveness of Europe’s diverse banking sector, without compromising resilience,” he wrote.

What Comes Next

The ECB is preparing to implement the simplification measures within its authority. It will also work with European institutions on changes that require action beyond the central bank, including initiatives under development through the European Banking Authority.

For Elderson, the proposals are part of a broader push to streamline European banking supervision, not just for smaller institutions but across the system as a whole.

“Our goal is clear: to make our supervision more efficient, more effective and more risk-based, while continuing to preserve banks’ resilience,” he wrote.

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