Tesla (NASDAQ:TSLA) stock gained about 7% yesterday after the company provided an update on the Tesla Semi, a fully electric semi-truck, at the Advanced Clean Technology Expo in Las Vegas. Furthermore, Dan Priestly, senior manager at Tesla Semi, disclosed plans to deliver an additional 50 trucks to PepsiCo (PEP) as part of the pilot testing program.
Priestly noted that Tesla Semi trucks were performing well in efficiency tests, averaging 1.7 kilowatt-hours per mile (kWh/mile) even with heavier loads. He also mentioned that a network of Megachargers, specifically designed for the Semi, enables a daily range of 1,000 miles.
Moreover, he revealed that the company is ramping up its gigafactory in Nevada. Further, TSLA plans to produce 50,000 units annually and begin the delivery of semi-trucks from its Nevada factory in 2026.
Tesla Semi Update Comes as a Relief to Investors
It seems that investors breathed a sigh of…
