November 28, 2017 1:00 PM, EST

Tesla Reveals Price Range for Electric Semi

Tesla's Elon Musk unveils the new Semi Tesla's Elon Musk unveils the new Semi. (Seth Clevenger/Transport Topics)

Tesla Inc. said the expected price for its all-electric Class 8 truck will range from $150,000 to $200,000.

The Tesla Semi, which is powered by a battery pack and four independent electric motors on the drive axles, will offer a range of 300 or 500 miles on a single charge, according to the company.

The expected base price for a tractor with a 300-mile range will be $150,000, while the anticipated base price for the version with a 500-mile range will be $180,000, Tesla revealed on its website.

The base reservation for the vehicle, which is scheduled to enter production in 2019, is listed at $20,000.

The company also lists a $200,000 upfront price tag for a “founders series” edition of the truck.

Tesla said its Semi will provide $200,000 or more in fuel savings and a pay-back period of two years.

The truck consumes less than 2 kilowatt hours of energy per mile, according to the company.

Co-founder and CEO Elon Musk introduced the vehicle at a Nov. 16 unveiling in Hawthorne, Calif.