Tesla Inc. may have to ask creditors and shareholders for more capital to fund development of an electric semi truck, a new roadster and accelerated production of a high-volume electric sedan, analysts said on Friday. First Walmart placed an order for several Semi trucks from Tesla, and now we're learning that Canadian grocery giant Loblaw is putting in a fair sized order as well. The company didn't say how many it ordered.
The truck will have Tesla's Autopilot framework, which can keep up a saved speed and back off naturally according to the movement of traffic.
Tesla revealed its new electric semi-truck and a new version of its Roadster sports auto, boasting the vehicles' acceleration times and long-distance capabilities. Trucks account for almost a quarter of transportation-related greenhouse gas emissions in the USA, according to government statistics.
But the semi also piles on the chaos at Palo Alto, California-based company. The first 1,000 will cost $250,000 and are Founder's Series models. It's also ramping up production of solar panels after buying Solar City Corp. past year.
Musk, too, is being pulled in many directions.
"In essence, all last night's event did was add to Elon Musk's shopping list of things he needs to spend money on at a time when the company is having difficulty making its base vehicle [Model 3]", said Cowen analyst Jeffrey Osborne.
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So, clearly, there are notable limits to Tesla's semi trucks as of now, but obviously major benefits as well - greatly reduced emissions being an important one. Some analysts expect it to get around 200 miles per charge and be used for daily tasks like transporting freight from a port to a distribution center. Musk says, the next-generation Tesla Roadster will go from zero to 60 miles per hour in under two seconds and max out at over 250 miles per hour. CIBC World Markets Inc. lifted its position in Tesla by 74.2% in the second quarter. About 260,000 Class-8 trucks are produced in North America annually, and that market has a value of about $28.6 billion, said Don Ake, vice president of commercial vehicles at FTR, an industry economics research firm. Right now, there's little charging infrastructure on global highways.
The future Roadster customers, who already can book it by paying $50,000′ on trust, ' will also be able to count on an even more significant autonomy.
On that note, it'll be interesting to see if Tesla can garner interest for the semi trucks in China, despite being an outsider, as there's expected to be a rapid shift away from diesel and petrol/gasoline powered trucks there over the coming decade or two.
As non-renewable energy sources as getting more costly, it's time to replace petrol/diesel vehicle with electric vehicles.
But even lower costs won't make trucking a sure bet for Tesla.
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