Tesla Stock Rises Ahead of Long-Awaited Semi Truck Unveiling

Tesla Stock

After being first mentioned five years ago, it is anticipated that Tesla (NASDAQ:TSLA) will finally present its eagerly anticipated Semi, an 18-wheeler long-haul electric freight carrier, on Thursday. In premarket trading, Tesla stock increased.

It took five years to develop the Tesla Semi. The first Tesla Semi trucks will go to PepsiCo (PEP) in California, as was previously reported in 2017, and deliveries are now anticipated to start. When the Semi was first introduced, Pepsi ordered 100 EVs.

In premarket trading on Thursday, Tesla’s stock climbed 1.5%. The closing price of TSLA shares on Wednesday was $194.70, an increase of 7.7%.

Even though the Tesla Semi has been in development for five years, there are still a lot of things we don’t know about it. On Thursday, key details including price and charging times will be watched by investors and analysts.

According to rumors, the Tesla Megacharger has a building permit for the PepsiCo site in Modesto, California. On November 15, Tesla said that the “Semi Delivery Event” would take place on December 1 at its Nevada battery factory. On November 26, Tesla’s CEO, Elon Musk, tweeted that the 81,000-pound Semi had successfully driven 500 miles.

According to Musk, the Semi will be able to create an 80% charge in 30 minutes, and there are plans to develop a long-haul truck charging network. 

New EVs Are Being Pushed Back, Tesla stock

According to Tesla, the company produces four all-electric cars: the Model 3 sedan, the Model Y crossover, the opulent Model S SUV, and the Model X SUV.

In a year in which the EV behemoth has mainly been a loser, shipping out the first new Semis would be a victory. In 2022, share prices have fallen by around 50%, returning to values that were close to those at which the company first entered the S&P 500. As Chinese demand has weakened, there has been a pullback. Tesla stock seems to have fallen as a result of Musk’s recent acquisition of Twitter.

Tesla stock declined in November but has gained almost 6.5% this week.

Tesla Stock Flattens Bear Begins To Warm Up To Value After The 2022 Sell-Off

Featured Image – Pexels © Pixabay

Please See Disclaimer

About the author: I'm a financial freelance writer keen on the latest market developments which i articulate with writing stock updates, press releases and investor news. As a person i live by the code of a sustainable human existence and a carbon neutral universe. When off work, i spend time reading non-fiction books, flying drones, and outdoor cycling.