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PepsiCo CEO Says the Company Will Take Delivery of Some Tesla Semi Trucks This Quarter

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【Summary】U.S.-based multinational food and beverage company PepsiCo will take delivery of electric semi trucks from Tesla in the fourth quarter, company CEO Ramon Laguarta said. PepsiCo was one of the first companies to commit to buying electric trucks from Tesla. The soft drink maker reserved 100 of Tesla's electric semi trucks in Dec 2017 as a way to reduce fleet emissions and fuel costs.

FutureCar Staff    Nov 08, 2021 9:35 AM PT
PepsiCo CEO Says the Company Will Take Delivery of Some Tesla Semi Trucks This Quarter

U.S.-based multinational food and beverage company PepsiCo will take delivery of electric semi trucks from Tesla in the fourth quarter, company CEO Ramon Laguarta said in an interview to CNBC on Monday.

During an interview on "Squawk on the Street," CNBC's Jim Cramer asked Laguarta about PepsiCo's plans to reduce carbon dioxide emissions after the PepsiCo CEO spoke at the 26th United Nations Climate Change Conference (COP26). 

Laguarta told Cramer that freight transportation accounts for around 10% of PepsiCo's gas emissions, The company had previously said it aims to use the trucks to ship snack foods and beverages between manufacturing and distribution centers as well as to retailers.

PepsiCo was one of the first companies to commit to buying electric trucks from Tesla. The soft drink maker reserved 100 of Tesla's electric semi trucks in Dec 2017 as a way to reduce fleet emissions and fuel costs. At the time, its was the largest order for the trucks from Tesla. However, Laguarta did not say how many trucks the company is expecting to receive this quarter.

PepsiCo is among a growing number of leading shippers that plan to add Tesla's electric trucks to their fleets to curb emissions. The companies include Walmart, fleet operator J.B. Hunt Transport Services Inc, and food distributor Sysco Corp that have placed orders for Tesla's semi-truck.

PepsiCo's intent to purchase electric trucks from Tesla follows a major commitment from rental car company Hertz. Last month, Hertz said it would order 100,000 Tesla vehicles by the end of 2022. The news of the Hertz deal sent Tesla's market cap to over $1 trillion, further cementing its position as the world's most valuable automaker.

The futuristic Tesla semi truck was unveiled in Nov. 2017 to much fanfare. The fully-electric truck will reportedly have a range of 500 to 600 miles. However, Musk did not specify a time frame for ramping up production of the semi, which appears to be put on hold as Tesla ramps up production of the mass-market Model 3 sedan and Model Y crossover and focuses on completing its two new factories in Germany and Texas.

In June 2020, Chief Executive Elon Musk told staff that it's time for "volume production" of the truck. "Production of the battery and powertrain will take place at Giga Nevada," Musk wrote in his email. Musk also said that most of the other work will probably take place in other states, but didn't name any.

But in an SEC filing in July, Musk wrote that Tesla "shifted the launch of the Semi truck program to 2022." Musk cited the limited availability of battery cells for the delays. 

Tesla's electric truck made its first delivery in March 2018 transporting battery packs from the company's factory near Reno, Nevada to its Fremont, California vehicle assembly plant. Since then the company has been lining up commercial customers like PepsiCo.

Musk said that Tesla's truck Tesla's truck is somewhere in the 1,000 horsepower range, which is close to a traditional diesel powered Class 8 truck. 

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