Tesla stock gains on electric Semi truck progress, updates

Shares of Tesla (TSLA) are trading higher ahead of Tuesday's market close, propelled by new details on the EV company's highly anticipated electric Semi truck project. First unveiled in 2017, the automaker has now set its sights on delivering these cutting-edge vehicles by 2026.

Yahoo Finance's Pras Subramanian breaks down the details, discussing features within the vehicles and the truck's intended use cases.

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This post was written by Angel Smith

Video transcript

Well, let us stick with electric vehicles and talk about Tesla shares of that company rising after it provided an update on its long awaited electric semi truck project or I should say semi truck project.

Here are the details of Yahoo Finance Pro Subman semi for truck, semi, four conductors.

I think I've heard both.

Ok. Well, in any case, we're talking about tractor trailers is what I what I always called them tractor.

This is a weird term.

A tractor trailer there, understood the whole, the whole concept.

But anyway, yes, update on the long awaited semi, semi, semi semi truck.

Yes.

Uh the car that a truck, sorry that came out that was debuted in 2017 still is in the pilot testing of that vehicle right now.

So basically uh uh the project, the project manager was speaking at the Act Expos or the alternative Clean Transportation Expo.

Someone how they're on track to deliver these by early 2026.

Um There's a new facility they're building attached to G in Nevada.

When that gets fully ramped up, they'll be potentially producing 50,000 units a year, which was I think kind of a uh more than what people thought they would be kind of produced for this, such a big, big vehicle.

But anyway, uh, early kind of specs here, the 500 mile range version, the long range one.

we on 23,000 and the, the kind of the 300 mile kind of intermediate uh length of truck, uh range truck is 20,000.

Sorry, a lot of numbers here.

So, yes.

Uh I think some, some bullet is there for that vehicle to tell us about how they have 3.5 million test miles done both with Pepsi co their original test partner and also they're using the truck to deliver batteries from their uh battery facility in Nevada to the Fremont factory.

So a lot going on there trying to ramp up this truck, it's working.

It's, it seems to be pretty efficient.

They, they're saying, um, they can do pull a full 82,000 load.

Uh, the beginning runs of 250 to 500 miles, uh, based on how the elevation changes, things like that.

So, uh, pretty kind of efficient there for this long haul, uh, sort of uh, truck real quickly.

When are we going to see this on the road?

2026 when they say early 2026 1st, real beyond production or beyond pilot spec models.

So we'll be looking for them.

All right.

Thanks for us.

Appreciate it.