Einride AB Will Deploy 500 Tesla Semi Trucks This Year. Here's What That Means for Tesla Stock.
Autonomous trucking may be reaching an inflection point.
Overview
When the Tesla (NASDAQ:TSLA) Semi was announced in 2017, expectations were high. The global freight trucking market is currently valued at $2.2 trillion. Diesel is one of the industry's highest costs of doing business. Labor is also pricey, with 3.5 million drivers employed in the U.S. alone.
Tesla's Semi trucking platform, of course, is powered by batteries and electricity. And the company's autonomous driving technology can further reduce trucking costs. In short, many analysts believed the Tesla Semi was destined for success.
Details
In 2018, CEO Elon Musk announced that Tesla would begin production of the Semi by sometime in 2019. Analysts were aggressive in their forecasts, with many expecting run rate production of around 25,000 per year at the start.
Source
Originally published at www.fool.com.