Key Points
Tesla (NASDAQ:TSLA) is set to hold a major Semi event on September 24, where it will celebrate the opening of a new factory dedicated to its all-electric Semi truck. This comes as Einride AB has placed an order for 500 Semis, tripling Tesla’s lifetime sales of the truck.
Initially unveiled in 2017, the Tesla Semi was expected to capture 3% of the semi market within five years and lead to significant revenue growth for the company, which was then generating $11 billion annually. Market estimates for the Tesla Semi opportunity exceeded $100 billion per year. However, as of last year, only a few hundred units had been sold.
The current price for a Tesla Semi is around $350,000 with the charger, compared to approximately $165,000 for a new diesel truck. While higher fuel prices might drive demand, concerns about initial costs and operator inexperience with electric vehicles persist. The future of the Semi’s adoption also hinges on the development of autonomous trucking technology.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
