Musk delivers first Tesla truck, however no updates on manufacturing, pricing

Dec 1 (Reuters) – Tesla Inc (TSLA.O) chief government Elon Musk delivered the corporate’s first heavy-duty tractor-trailer to PepsiCo (PEP.O) on Thursday with out providing an up to date forecast for costs, manufacturing plans or the truck’s freight amount. might carry.

Musk, who appeared on stage at an occasion at Tesla’s Nevada manufacturing unit, mentioned the battery-powered long-haul truck would scale back freeway emissions, outperform current diesel fashions in energy and safety and would derive a quick charging expertise that Tesla would use in its subsequent Cybertruck pickup.

“In the event you’re a trucker and need essentially the most badass platform on the street, that is it,” Musk mentioned, noting that it had been 5 years since Tesla introduced it was creating the all-electric truck. But trade consultants stay skeptical that battery electrical vans can deal with the burden of hauling heavy masses tons of of miles economically.

In Musk’s first reveal of Tesla since taking on Twitter – an acquisition some traders concern has grow to be a distraction – the corporate didn’t announce the worth of the Semi, present particulars on variants of the truck that it initially projected or supplied a forecast for deliveries to PepsiCo or different prospects. Tesla mentioned it might begin utilizing the Semi to ship components to its manufacturing unit in Fremont, California.

In 2017, Tesla mentioned the 300-mile vary model of the Semi would price $150,000 and the 500-mile model $180,000, however costs for Tesla’s electrical passenger automobiles have risen sharply since then.

Robyn Denholm, president of Tesla, not too long ago mentioned the automaker might produce 100 Semis this 12 months. Musk mentioned Tesla would purpose to provide 50,000 vans in 2024.

PepsiCo, which made its first cargo supply with the Tesla truck to ship snacks to individuals attending the Nevada launch occasion, ordered 100 vans in 2017.

Brewer Anheuser-Busch (ABI.BR), United Parcel Service Inc (UPS.N) and Walmart Inc (WMT.N) have been among the many different corporations that had booked the Semi. Tesla didn’t present particulars of orders or deliveries to prospects, or an estimate of what the full price of possession could be for future patrons in comparison with diesel options.

“NOT AWESOME”

Musk mentioned the Semi ran assessments between Tesla’s manufacturing unit in Sparks, Nevada, and its manufacturing unit in Fremont, California. Tesla mentioned it traveled 500 miles on a single cost, with the Semi and cargo weighing a complete of 81,000 kilos.

Tesla didn’t disclose the load of a Semi unloaded, a key specification analysts hoped to be taught and an vital consideration for electrical truck effectivity.

Musk has spoken prior to now in regards to the prospect of totally autonomous vans. Tesla didn’t present particulars on how Tesla’s driver help techniques work within the Semi it unveiled on Thursday or in future variations.

Semi Supply’s presentation ended with out Musk answering any questions, as he typically does at Tesla occasions.

“Not very spectacular – shifting a cargo of crisps (common weight per pack 52 grams) can in no way be thought-about a definitive proof of idea,” mentioned Oliver Dixon, principal analyst at consultancy Guidehouse.

Tesla initially set a 2019 manufacturing goal for the Semi, which was first unveiled in 2017. Within the years since, rivals have began promoting their very own battery-powered vans.

Daimler’s Freightliner (MBGn.DE), Volvo (VOLVb.ST), startup Nikola (NKLA.O) and Renault (RENA.PA) are amongst Tesla’s rivals in creating options to combustion engine vans.

Walmart (WMT.N), for instance, mentioned it examined Freightliner’s eCascadia and Nikola’s Tre BEV vans in California.

‘LIKE A CHEETAH’

The Semi is able to charging at 1 megawatt and options liquid cooling expertise within the charging cable in an up to date model of Tesla’s Supercharger that shall be made out there to the Cybertruck, Musk mentioned. The Cybertruck is predicted to enter manufacturing in 2023.

Semi-class vans account for simply 1% of U.S. car gross sales, however 20% of total car emissions, Tesla mentioned.

Tesla mentioned different future automobiles would use powertrain expertise developed for the Semi with out offering particulars. The Semi makes use of three electrical motors developed for Tesla’s efficiency model of its Mannequin S, with simply one in all them engaged at freeway speeds and two in reserve when the truck must speed up, a function that makes the truck extra fuel-efficient. vitality, Musk mentioned. .

“This factor has loopy horsepower in comparison with a diesel truck,” Musk mentioned. “Principally, it is like an elephant shifting like a cheetah.”

In a slide displayed as a part of Musk’s presentation, Tesla confirmed a picture of a future “robotaxis” in improvement with a mock-up of the long run automobile coated in a tarp.

The presentation got here after Tesla shares closed at $194.70. The inventory has fallen round 45% to this point this 12 months, shedding round $500 billion in market capitalization to round $615 billion.

Among the many elements cited by traders are Musk’s Tesla inventory gross sales to fund his takeover of Twitter, indicators {that a} slowing international economic system has begun to cut back demand for Tesla’s premium automobiles and a warning from the corporate that it may not meet its expectations. goal of accelerating deliveries by 50% this 12 months.

Reporting by Akash Sriram in Bengaluru and Hyunjoo Jin in San Francisco; Modifying by Kenneth Maxwell

Our requirements: The Thomson Reuters Belief Ideas.