First Tesla truck presented by Elon Musk, no news on output or pricing.
Elon Musk, the CEO of Tesla Inc. (TSLA.O), handed over the company's first heavy-duty semi on Thursday to PepsiCo (PEP.O), but he made no new predictions about the truck's cost, its planned manufacturing, or the volume of cargo it could transport.
The battery-powered, long-haul truck will lower highway emissions, exceed current diesel models on power and safety, and spin-off a fast-charging technology Tesla would employ in its future Cybertruck pickup, according to Musk, who spoke on stage at a Tesla event in Nevada.
The all-electric truck has been under development by Tesla for five years, and Musk declared, "If you're a truck driver and you want the most badass vehicle on the road, this is it." Industry experts are still dubious about the ability of battery-powered trucks to carry the weight of heavy loads over long distances without breaking the bank.
The company did not disclose pricing for the Semi at Musk's first Tesla unveiling following his acquisition of Twitter, which some investors fear has turned into a distraction. It also did not provide information on the truck's variants that it had initially anticipated, nor did it provide a forecast for delivery services to PepsiCo or other clients. Tesla announced that it would start employing the Semi to transport parts to its Fremont, California, plant.
Tesla had previously stated that the Semi's 300-mile range version would be $150,000, and the 500-mile version would cost $180,000, but costs for Tesla's passenger electric vehicles have subsequently shot up significantly.
Tesla's chair, Robyn Denholm, reportedly stated that the manufacturer may construct 100 Semis this year. According to Musk, Tesla plans to make 50,000 of the vehicles by 2024.
PepsiCo had purchased 100 trucks in 2017, and they have finished their first delivery mission with the Tesla vehicle to distribute snacks to attendees of the Nevada launch ceremony.
Other businesses that had reserved the Semi included Walmart Inc. (WMT.N), Brewer Anheuser-Busch (ABI.BR), and United Parcel Service Inc. The entire cost of ownership for potential consumers in comparison to diesel alternatives was not disclosed by Tesla, nor were there any specifics on orders or delivery to customers.
Not very impressive
The Semi has been conducting test runs between Tesla's factories in Sparks, Nevada, and Fremont, California, according to Musk. The Semi and payload weighed a combined 81,000 pounds, according to Tesla, which claimed to have driven 500 miles on a single charge.
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The weight of an empty Semi was a crucial detail that analysts had expected to learn and a crucial factor in the effectiveness of electric trucks that Tesla did not divulge.
Musk has already discussed the possibility of completely autonomous trucks. Regarding the Semi it revealed on Thursday or future models, Tesla did not disclose information on how its driver assistance technologies will operate.
As he frequently does at Tesla events, Musk did not take questions after the Semi delivery presentation. Moving a shipment of chips, with an average pack weight of 52 grammes, is not particularly outstanding, according to Oliver Dixon, senior analyst at consultancy Guidehouse.
The Semi was initially introduced in 2017, and Tesla had targeted a production date for 2019. Since then, competitors have started selling their own battery-powered trucks.
Freightliner by Daimler (MBGn.DE), Volvo (VOLVb.ST), startup Nikola (NKLA.O), and Renault (RENA.PA) are a few of Tesla's rivals in the creation of combustion-engine truck substitutes.For instance, Walmart (WMT.N) has stated that it has been testing Nikola's Tre BEV and Freightliner's eCascadia trucks in California.
As a cheetah,
According to Musk, an enhanced version of Tesla's Supercharger that will be made accessible to the Cybertruck features liquid-cooling technology in the charging cable and can charge the Semi at a rate of 1 megawatt. In 2023, the Cybertruck is expected to begin manufacturing.Only 1% of vehicles sold in the US are trucks, but Tesla claims that they account for 20% of all vehicle emissions.
Tesla made the unspecific claim that other, upcoming cars would make use of the Semi's powertrain technology. Three electric motors are used in the Semi, two of which are stored in reserve for when the truck needs to accelerate and only one of which is activated at highway speed, according to Musk. This feature makes the Semi more energy-efficient.
In comparison to a diesel truck, "this thing has amazing power," Musk added. In essence, it's similar to an elephant running like a cheetah. Tesla demonstrated a potential "robotaxi" under progress with a mock-up of the vehicle covered in a tarp on a slide that was part of Musk's presentation.
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After Tesla's stock price reached $194.70, the presentation was held. The market capitalization of the shares has decreased by roughly $500 billion, or nearly 45%, to about $615 billion so far this year.
Investors have cited a number of factors, including Musk's sales of Tesla stock to fund his acquisition of Twitter, indications that demand for Tesla's high-end vehicles is beginning to decline due to a slowing global economy, and a warning from the company that it might not meet its goal to increase deliveries by 50% this year.
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