San Francisco, Oct 20 (IANS): Elon Musk-owned electric vehicle company Tesla is aiming to produce 50,000 Tesla Semi units per year in 2024.

Musk said that the company will be "ramping up Semi production through next year," reports Teslarati.

"As I think everyone knows at this point, it takes about a year to ramp up production. So, we expect to see significant -- we are tentatively aiming for 50,000 units in 2024 for Tesla Semi in North America," Musk was quoted as saying.

"And obviously, we will expand beyond North America. And these would sell -- I don't want to say the exact prices, but they're much more than a passenger vehicle," Musk added.

While a production target of 50,000 per year sounds conservative for a company like Tesla -- which produces 20,500 vehicles per week in Gigafactory Shanghai this fourth quarter of 2022 -- such an output would already be incredibly impressive, the report said.

According to a data from Statista, the US Class 8 trucking market is currently dominated by Freightliner, which sold over 71,000 units in 2020 and about 100,000 units in 2019, it added.