The Tesla Semi from Tesla Inc (NASDAQ:TSLA) is nearing customer deliveries — and the timing couldn't be better. Tesla shared that its first semi from the high-volume line was produced last Wednesday, and companies are opening up their order books.
Tesla Lands Big Semi Order
The highly anticipated Tesla Semi was unveiled in 2017 and could be one of the biggest vehicle catalysts for the Elon Musk-led company in years.
This week, WattEV announced an order for 370 Tesla Semi vehicles from the company, as reported by Electrek.
The deal is the largest electric vehicle truck single deal ever announced in California.
WattEV, which previously bought electric trucks from the now bankrupt Nikola Motors, said it selected Tesla based on cost, performance and availability.
The first 50 Tesla Semis ordered by WattEV are expected to be delivered in 2026, with the full order delivered and operational by the end of 2027.
Of the 370 total trucks, over 300 will be deployed as part of a program with the Port of Oakland, according to the report.
WattEV has several operational truck depots in California with new locations coming in Oakland and Fresno. Those new locations will have Tesla Megawatt Charging System chargers in place, which can charge the Tesla Semi and provide 300 miles of range with a 30-minute charge. WattEV also has plans for depots in Stockton and Sacramento later this year.
WattEV offers leasing, vehicle deployment options, and charging options, operating with a Truck-as-a-Service model. By utilizing electric trucks, the company offers cost savings to customers.
The Tesla Semi comes with a starting price of $260,000 for the standard range version and $290,000 for the long-range version, which could provide cost savings to customers, based on competitors.
Tesla Semi A Major Catalyst
Tesla already launched the Semi in testing with several partners, including PepsiCo. Other customers include Anheuser-Busch, Sysco, UPS, DHL, J.B. Hunt and Walmart.
The EV giant has a deal in place with Pilot Travel Centers for the launch of Tesla Semi-specific charging stations along some of the busiest trucking routes in the U.S.
Car enthusiast Jay Leno recently test-drove the Tesla Semi, his first time in the new updated model after previously testing a pre-production Tesla Semi back in October 2023.
During his test drive and interview with Tesla Chief Designer Franz von Holzhausen, Leno shares his amazement at the company improving on towing capacity. He also said the company designing a battery pack to last one million miles could be a game-changer for the company.
But, the real game-changer for Leno was the cost-per-mile logistics for Tesla Semi compared to other semi-trucks and the total ownership costs.
With the starting prices and potential cost savings, Tesla could see orders pour in for the Tesla Semi soon.
Tesla said its deliveries will start later this year. The company is targeting 50,000 Tesla Semi units produced annually from a dedicated factory in Nevada.
Tesla Stock Price Action
Tesla stock closed Wednesday up 2.40% to $398.73 versus a 52-week trading range of $271.01 to $498.82. Tesla stock is up 7.1% over the last five trading days, perhaps boosted by the recent company update on the Tesla Semi and the large order.
Photo courtesy: Mike Mareen / Shutterstock
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