X It follows soda giant PepsiCo (PEP), which placed reservation orders last week for the Tesla big-rig truck named Semi, though the planned vehicle won't start shipping until 2019. In total, the company has around 108,000 package cars, vans, tractors and motorcycles on the road.
Food distribution company Sysco placed reservations for 50 of Tesla's new fully-electric trucks, while Anheuser-Busch placed orders for 40 Tesla trucks, "to reduce the environmental impact and increase the efficiency of its operations". UPS already has over 8,500 alternative fuel or advanced technology vehicles in its fleet including all-electric, hybrid, ethanol, compressed natural gas, hydraulic hybrid, liquefied natural gas, propane and renewable natural gas vehicles. UPS said its attraction to the new vehicles stems from their low cost of operation, enhanced safety features and cleaner operation.
At the unveiling event last month, Tesla unveiled two electric truck options with 300 and 500 miles of range. Shares of Tesla are up 0.51% on Tuesday at $340.60 following the news.
Another day, another record order for Tesla Semi. It has an IBD Composite Rating of 40 out of best-possible 99.
The new Tesla vehicles come at a time when the company is struggling to get its new Model 3 out the door, during what Musk has called "production hell". Its freight business has over 5,5000 vehicles which tow over 21., 000 trailers, so it could potentially become another huge customer for Tesla's fledgling truck business. UPS hopes a quarter of new vehicles it purchases will use an alternative fuel by 2020. Since 2000, the company has raised the dividend every year except in 2009, following the financial crisis.