Tesla CEO Elon Musk tweeted on Thursday that the electric car manufacturer had "bought truck capacity", a move to increase delivery to its Model 3 cars before the federal tax credit begins to decline on December 31st.
Musk First did not explain what "purchased truck capacity" meant. The company has not submitted any regulatory submissions of an acquisition, and Tesla has not yet responded to TechCrunch's request for the case.
Musk later wrote that Tesla had both purchased truck companies and secured contracts with major carriers to "avoid truck failure last quarter."
It is important that Tesla pushes as many sales as possible before the turn of the year. The federal electric vehicle tax credit gives consumers a $ 7,500 credit when buying an all-electric vehicle. When a car manufacturer has sold 200,000 electric vehicles, the credit begins to go down.
Earlier this year, Tesla delivered its 200,000. Electric vehicle. The performance enabled a countdown of $ 7500 federal tax credits offered to consumers who buy new electric vehicles. Under these rules, Tesla customers must receive their new model S, Model X or Model 3 by 31 December for full credit.
"Take delivery" is the key term here. An inability to meet the delivery timetable can create a setback among customers who make the last minute acquisitions in the hope of securing the federal tax credit.
And deliveries have been a challenge for the company as it has affected the production of Model 3 vehicles. Delivery logistics was the main cluster of the company in the third quarter. Customers reported delays and confusion about how to get their new model 3s. Hundreds of Tesla owners ended up going down to various Tesla showrooms where Model 3s was handed over to customers to help the company reach its goal.
Several sources in the truck industry wondered that Tesla probably bought one or more smaller trucking companies, especially those that the company has done business with before.