Tesla Becomes Most Valuable Auto Manufacturer In The World: To Begin Production Of Electric Semi

American electric vehicle and clean energy company, Tesla, Inc. witnessed a 6 percent increase in its stock value, effectively taking stock prices to just above USD 1,000 a piece.

Tesla Becomes Most Valuable Auto Manufacturer In The World: To Begin Production Of Electric Semi

Tesla Daily reported via its Twitter handle that the brand is now the most valuable automotive manufacturer in the world, taking the number one spot from Japanese auto giants, Toyota Motor Corp.

Tesla Becomes Most Valuable Auto Manufacturer In The World: To Begin Production Of Electric Semi

The value increased after the company's Chief Executive Officer, Mr Elon Musk told staff at Tesla that the brand's Semi Commercial Truck was ready for volume production, via an email.

While the email did not specify a timeline for production but did say that it was time to bring the Tesla Semi to volume production. Mr Musk replied with a "Yes" over his Twitter handle when asked if the email about production was accurate.

Tesla Becomes Most Valuable Auto Manufacturer In The World: To Begin Production Of Electric Semi

The increase in share value could bring Elon Musk another massive payout from a stock compensation plan that is related to the brand's market capitalisation.

Tesla Becomes Most Valuable Auto Manufacturer In The World: To Begin Production Of Electric Semi

Tesla's stock value was also magnified by a bullish call by Wedbush, which raised its target price for the electric vehicle manufacturer to USD 1,000, citing that Tesla could have more room to run.

Tesla Becomes Most Valuable Auto Manufacturer In The World: To Begin Production Of Electric Semi

Investors in the brand are also expecting Mr Musk to unveil a new ‘million-mile battery technology that will offer a longer life, lower costs and a massive range for Tesla vehicles in the future.

Tesla Becomes Most Valuable Auto Manufacturer In The World: To Begin Production Of Electric Semi

Production of the battery and powertrain will take place at Giga Nevada, while most of the other production work is expected to begin at a new facility.

Tesla Becomes Most Valuable Auto Manufacturer In The World: To Begin Production Of Electric Semi

A prototype of the battery powered Semi was unveiled in 2017, with Mr Musk stating that the Class 8 truck would go into production during 2019. A recent statement had Tesla saying that volume production would begin during 2021.

Tesla Becomes Most Valuable Auto Manufacturer In The World: To Begin Production Of Electric Semi

The Tesla Semi will be powered by four electric motors and will be available with two battery configurations - offering ranges of 480 kilometers and 805 kilometers respectively.

Tesla Becomes Most Valuable Auto Manufacturer In The World: To Begin Production Of Electric Semi

The all-electric semi will feature automatic emergency braking, lane-keeping assist, and a forward collision warning, and its infotainment system can be integrated into fleet systems.

Tesla Becomes Most Valuable Auto Manufacturer In The World: To Begin Production Of Electric Semi

The most comfortable Semi in the world can nail the 0 to 100kmph mark in 5 seconds, and can maintain a top speed of 100kmph over a 5 percent gradient.

Tesla Becomes Most Valuable Auto Manufacturer In The World: To Begin Production Of Electric Semi

Tesla is currently looking for a site to build a new factory. Texas and Oklahoma are currently leading the bidding for the new site from a pool that includes other states in the US.

Tesla Becomes Most Valuable Auto Manufacturer In The World: To Begin Production Of Electric Semi

Thoughts About The Tesla Semi Ready For Volume Production

Well, we can't say we're surprised. Tesla is in a league of their own and with an eccentric character like Elon Musk at the helm, we expect the first lot of Semi trucks to be ready and delivered at some point next year. We reckon that Mr Musk will be up for another payout at that point.

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Read more on: #tesla
Article Published On: Thursday, June 11, 2020, 18:18 [IST]
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