Concept art of the Tesla Semi from 2017.
Image: Tesla

Five years after it was announced, reservations have opened for the all-electric Semi truck that will go into production in 2023. You can make a reservation by paying $5,000 upfront and $15,000 within 10 days. Spotted via InsideEVs. The $20k is not refundable, but it seems like it is.

You'd be forgiven for forgetting about the Semi, which was announced in 2017. The company says the truck will have a battery range of 300 or 500 miles and be powered by four independent motor on the rear axles. There have been a number of orders from businesses like Walmart and FedEx in the low-dozens.

Prices for the 300 mile Semi currently start at $150,000

It's understandable that the production of the Semi has struggled since the debut of it. The truck is scheduled to go into production next year, but we wouldn't be surprised if there are further delays.

What this news shows, though, is that the ability to generate cash flow from customers by encouraging them to put down deposits for products that don't yet exist is a trend that has since been copied by other EV manufacturers. The company can take out interest-free loans from fans with paid reservations. Even if the Semi isn't close to production, it is ready to generate deposits.