Tesla ramps up Semi production in the US amid record diesel prices
Tesla is increasing production of Semi electric trucks at its facility in Nevada, United States. Record diesel fuel prices could create additional opportunities for the company in the freight transportation market, MarketWatch writes.
Tesla plans to hold an opening ceremony for the facility in Nevada on September 24, for which it previously stated a target production volume of up to 50,000 Semis per year. The heavy-duty electric truck was unveiled in late 2017, and in April it began rolling off a high-output production line.
According to the publication, Walmart, PepsiCo and Swedish electric truck company Einride have placed orders for the model. Einride plans to deploy a fleet of 500 Semi trucks.
Morgan Stanley assessments
Morgan Stanley analyst Andrew Percoco said that he had previously viewed Tesla as a “potential wild card” in the competitive autonomous trucking market, but now called it a “credible new competitor.” In his view, the key question for investors is the company’s potential revenue from autonomous driving software.
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Percoco believes that an autonomous fleet could be six to eight times more profitable than a fleet with drivers. According to MarketWatch’s estimate, autonomous freight transportation could reduce labor costs and fuel losses. According to AAA, the average diesel price in the United States reached a record $6 per gallon this week.
Forecasts and cautions
Percoco estimated Tesla’s potential monthly revenue from each vehicle at between $12,000 and $18,000. The calculation is based on the subscription price and an assumption about monthly mileage. According to his forecast, by 2040 this could generate $17 billion in software revenue if Tesla controls 13.5% of the market.
At the same time, another Morgan Stanley analyst, Ravi Shanker, cautioned that autonomous freight transportation remains a promise until commercial production ramps up in 2027. Elon Musk also said in July that he did not want Semi to distract the company over the coming months, as Tesla is focused on Cybercab and other vehicles.
