Elon Musk has announced the global launch of the Tesla Inc TSLA Semi truck. This announcement comes amid ongoing skepticism about the truck’s autonomous capabilities and its 500-mile range.
What Happened: “Tesla Semi will be available worldwide,” Musk wrote on social media platform X.
Despite doubts surrounding the feasibility of a class 8 truck with such a range, recent third-party tests, reported by Electrek on Monday, including one conducted with DHL, are beginning to validate Tesla’s claims. These trials are crucial as Tesla seeks to build trust in the truck’s autonomous features.
The Tesla Semi program, initially scheduled for production in 2019, faced significant delays. However, volume production is now set to commence.
Tesla currently operates a small assembly line near its Gigafactory in Nevada, close to Reno. To support mass production, Tesla is constructing a second plant adjacent to the existing facility, with plans to scale up production in 2025 and a target of manufacturing up to 50,000 trucks annually.
Why It Matters: The global launch of the Tesla Semi comes at a time when the company is under scrutiny following a recent crash involving the vehicle. The U.S. National Transportation Safety Board has opened an investigation into the incident, which occurred on Aug. 19th in California.
Meanwhile, logistics providers like NFI Industries and beverage giant PepsiCo are set to begin piloting Tesla Semi trucks in their operations. NFI Industries recently reported successful trials with routes ranging from 250 to 450 miles, while PepsiCo has integrated 50 Tesla Semi trucks into its fleet, alongside additional electric vehicles.
Furthermore, Cathie Wood‘s Ark Invest has set a new price target of $2,600 for Tesla by 2029, driven by the company’s autonomous vehicle ambitions.
Read Next:
Image Via Shutterstock
This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
