Yardeni Research President Ed Yardeni joins the panel to discuss how higher yields are weighing on stocks. He analyzes the performance of the Magnificent 7 against the S&P 500 and explains the outlook for the technology and communications sectors.
Tesla announced Thursday that the electric vehicle manufacturer was beginning deliveries of its semi-trailers to its customers this week.
Executives at Tesla’s Sparks, Nev., factory said the first customers would take delivery of the big electric rigs about nine years after CEO Elon Musk first announced the company’s plans to develop long-haul cargo trucks.
The Semi aims to open a new market for Tesla, long known for its EV sedans and SUVs, by creating an electric option for commercial cargo haulers.
This announcement comes at a time when diesel prices have reached record levels, increasing costs for companies in the trucking industry.
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Tesla tractor-trailers charge at a charging station at the Frito-Lay manufacturing plant in Modesto. (Andy Alfaro/Modesto Bee/Tribune News Service via Getty Images)
Tesla did not disclose its plans for Semi production volumes or pricing during a Thursday evening webcast at the factory, although it reiterated plans to build 50,000 Semis per year at the Nevada factory.
Elon Musk was not at the event but said in a recorded video message: “I would recommend placing more orders if you haven’t already, but the waiting list is already quite long.
Several companies that purchased the Semi – including PepsiCo, DHL and US Foods – were at the Tesla event and were invited on stage, while trucks with their logos were displayed outside.
The long-range variant of the Semi has a range of 500 miles on a single charge, as Dan Priestly, Tesla’s director of semi-trailer engineering, said, that’s “500 miles in the real world. Our customers have validated that.” The standard version of the Semi has a shorter range of 325 miles on a single charge.
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An attendee rides in a Tesla Semi during the ACT 2026 Expo at the Las Vegas Convention Center in Las Vegas, Nevada. (Ian Maule/Los Angeles Times via Getty Images)
Tesla and Musk first unveiled the Semi in 2017 and planned to start production in 2019, although they faced delays due to supply chain disruptions.
The first Semi was delivered to US customers, including PepsiCo, in late 2022 – although these trucks were manufactured on Tesla’s lower-volume pilot production lines.
The electric vehicle maker’s first truck rolled off the high-volume production line in April. While volume production was expected to begin this year, Tesla has since adjusted its forecasts to not explicitly state that it will achieve high volume production this year.
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| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 372.11 | -5.83 |
-1.54% |
Despite delays, competition and changes in electric vehicle policy in the United States, Tesla received a new order for 2,500 semi-trailers from a coalition of major shipping companies that own cargo, including Microsoft and PepsiCo, according to the nonprofit Catalyst Mobility. The group noted that this figure is almost double the existing fleet of Class 8 electric trucks.
Additionally, Swedish freight technology company Einride announced a deal last week to add 500 tractor-trailer trucks to its fleet.
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Reuters contributed to this report.
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