The billionaire boss of Tesla, Elon Musk, announced yesterday that the company will start delivering the first units of its widely-awaited electric-powered semi-truck on 1 December this year with PepsiCo standing as the first customer in line to receive the vehicle.
The Semi Class 8 is the name of the model that Tesla will reportedly start delivering in December after a 5-year waiting period. Musk showcased the truck prototype in 2017 and stated back then that the model will go into production two years after.
However, part shortages and other headwinds – including the pandemic – prompted the firm to delay the manufacturing of the truck until now.
Excited to announce start of production of Tesla Semi Truck with deliveries to @Pepsi on Dec 1st! pic.twitter.com/gq0l73iGRW
— Elon Musk (@elonmusk) October 6, 2022
Back in 2017, PepsiCo ordered 100 units of the Semi Class 8 as part of its effort to reduce the carbon footprint of its extensive transportation fleet.
Musk did not provide any details in regards to where the trucks will be manufactured although sources report that Tesla’s Gigafactory in Texas will probably take charge of the vehicle’s production. Moreover, it is unclear how many units the firm will be capable of producing per year.
More Details About the Tesla Semi Class 8
The Semi Class 8 costs $180,000. However, the recently passed Inflation Reduction Act in the United States provided a tax credit of $40,000 for the purchase of heavy-duty electric-powered trucks.
Musk made the announcement via his Twitter account and further commented that the vehicle will have an autonomy of 500 miles (805 kilometers). He declined to answer the questions made by his followers.
In August this year, Musk commented that the company was planning to start shipping the trucks next year as part shortages persisted. It is not clear why the firm suddenly changed its plans.
Tesla (TSLA) stock is posting mild gains of 0.5% this morning in pre-market action following Musk’s remarks, which were published yesterday after the markets were closed.
The past 7 days have been quite busy for the controversial founder of SpaceX and Starlink as he continues to sort out the situation with Twitter (TWTR) – a company that he is once again resolved to acquire.
Moreover, the tech titan also participated in Tesla’s 2022 AI Day and revealed the latest prototype of the firm’s robot called “Optimus”.
Tesla Could Dominate the Semi Truck Market Amid the Class 8’s High Autonomy
With the launch of the Semi Class 8, Tesla will be competing directly with the eCascadia® vehicles to be produced by Freightliner, Volvo’s VNR Electric, and the Tre BEV model of Nikola Corporation (NKLA).
The Semi Class 8 stands to be the one with the most autonomy based on comparisons provided by visual capitalists with Nikola’s vehicle standing in second place with a driving range of 350 miles.
Companies that intend to use these electric-powered semi-trucks will initially target regional and urban routes. Tesla’s charging network is expected to support the Semi Class 8 while reports indicate that the company may roll out a charger that would add up to 400 miles of range to the vehicle in just 30 minutes.
In the case of PepsiCo, an electric-powered truck would be a perfect fit for its regional distribution hubs as the company will save money in fuel and will contribute to reaching its goal of becoming a net-zero carbon emitter by 2040.
“Climate action is core to our business as a global food and beverage leader and propels our PepsiCo Positive journey to deliver positive outcomes for the planet and people. Our ambitious climate goal will guide us on the steep but critical path forward — there is simply no other option but immediate and aggressive action”, commented the CEO of the snacks produced, Ramon Laguarta, in a press release published in January 2021 that voiced the firm’s ambitious environmental goals.
Other Related Articles:
- Toyota Announces US EV Expansion After Inflation Reduction Act
- Tesla is a Big Beneficiary of Inflation Reduction Act, Wolfe Says
- Quick Guide to Invest in Rivian (RIVN) Stock
Tamadoge - The Play to Earn Dogecoin
- '10x - 50x Potential' - CNBC Report
- Deflationary, Low Supply - 2 Billion
- Listed on Bybit, OKX, Bitmart, LBank, MEXC, Uniswap
- Move to Earn, Metaverse Integration on Roadmap
- NFT Doge Pets - Potential for Mass Adoption