Tesla Motors Starts Mass Production of Battery Cells

Tesla’s Musk Launches New Semi With First Transport Company Orders Coming In

8:45 AM, Nov 17, 2017 — Tesla (TSLA) unveiled two versions of its electric semi transport truck late Thursday and by Friday morning, orders were coming in even with the slated start of production over a year away.

Tesla Chief Executive Officer Elon Musk drove a silver semi into the launch event in California, and touted the vehicle’s acceleration time, aerodynamics and 500-mile range at highway speeds.

“We attended the Tesla Semi event and net the Tesla Semi specs exceeded expectations,” said RBC Capital Markets analysts including Joseph Spak in a note on Friday. “Production (is) scheduled to start in 2019 and while Tesla has had challenges meeting deadlines, it does eventually get there.”

In the presentation, Musk said the Tesla Semi will have an operating cost of $1.26 per mile compared with a diesel truck’s cost of $1.51. Production will begin in 2019, he said.

On Friday, transport company J.B. Hunt (JBHT) said it was placing a reservation to buy “multiple” Tesla Semis that will be used in its intermodal and dedicated contract services on the west coast.

“Reserving Tesla trucks marks an important step in our efforts to implement industry-changing technology,” CEO John Roberts said in a statement. “We believe electric trucks will be most beneficial on local and dray routes, and we look forward to utilizing this new, sustainable technology.”

Musk also revealed on Thursday a new Roadster, with a top speed of 250 miles per hour. RBC said they believe the price tag will be $200,000.

Companies: Tesla, Inc.
Price: 322.66 Price Change: +10.16 Percent Change: +3.25

Get Live Briefs Pro