Tesla’s stock is popping on the news
In context: The Tesla Semi has a quoted range of 300 or 500 miles depending on the configuration and starts at $150,000 and $180,000, respectively. Major companies including Walmart, UPS, FedEx and Anheuser-Busch have already placed orders.
Tesla is ready to send its electric big rig into volume production.
CEO Elon Musk in an internal memo obtained by CNBC said it’s time to go all out and bring the Tesla Semi to volume production. The truck has seen limited production thus far, Musk added, which has allowed them to improve many aspects of the design.
Tesla’s founder additionally said production of the battery and powertrain would take place at the company’s Gigafactory in Nevada. Most of the other work on the Semi would probably happen in other states, Musk noted.
— Elon Musk (@elonmusk) June 10, 2020
Tesla unveiled its electric Semi in late 2017. According to the company’s website, it features four independent motors on the rear axles that collectively consume less than 2 kWh per mile. In terms of acceleration, it can hit 60 mph from a standstill in around 20 seconds with a full 80,000-pound load. Without a trailer, it can do so in just five seconds.