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Tesla Stock Soars Amid Updates on Semitruck Program

Tesla Inc.’s shares popped on Tuesday after the automaker revealed details on its semitruck pilot program with the PepsiCo Frito-Lay division.

The Austin-headquartered electric vehicle (EV) maker’s shares advanced by 6.66% to $186.60 apiece on May 21. However, it shed 0.98% after hours, with analysts anticipating a 0.13% climb to $186.85 per share in the coming session.

Tesla Senior Manager Dan Priestley revealed at the Las Vegas Advanced Clean Transportation (ACT) Expo the firm’s plans to reach an annual capacity of 50,000 semitrucks this year. He added that customer deliveries will begin in 2026.

Moreover, Priestley said PepsiCo tested the semitrucks on 250 to 520-mile runs while carrying 82,000 pounds of cargo. Based on the results, Tesla Semis can travel 1,000 miles in 24 hours even while transporting the maximum weight allowed by law.

The pilot program has accumulated 3.50 million test miles, including travels across mountainous regions in extreme weather. The EV giant will also supply PepsiCo with 50 more trucks to add to the 35 units the latter is currently testing.

Priestley said the base model could cover 300 miles on a single charge when not carrying a load. Meanwhile, the long-range Tesla Semi, with a vehicle weight of 23,000 pounds, has a maximum 500-mile range.

Semitruck Launch Will Diversify Tesla’s Offerings

Investors welcomed the upcoming release of the Tesla Semi after five rounds of layoffs in five weeks, which sparked uncertainty in the company.

The launch could allow the carmaker to branch its EV line into trucks instead of relying solely on private electric cars.

In recent months, the firm has downsized its EV segment and increased investments in its robotaxi program and autonomous driving software. Chief executive Elon Musk notably fired the entire 500-person Supercharger unit at the end of last month.

Market specialists said spreading its resources will make Tesla more resilient and liquid amid slowing EV demand. Should its semitruck line succeed, they see a possibility of the company considering producing other EV types.

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