TSLA: Tesla Stock Charges Higher with 6% Pump Thanks to Semi Truck Update

New details around the Semi truck appeared to buoy EV maker’s shares higher, helping erase some of the steep losses this year.

• Tesla stock TSLA popped more than 6% on Tuesday after new details emerged into the EV maker’s Semi truck. Dan Priestley, senior exec overseeing the Semi truck’s engineering, revealed in Las Vegas that the new vehicle could travel 1,000 miles in 24 hours thanks to Tesla’s latest charging technology. The guidance took investors by surprise as many had expected lower performance.
• ”We are building a factory in Nevada…being ramped in 2026 for customer deliveries,” said Priestley. Tesla had previously stated it could churn out about 50,000 units of the Semi truck per year. Presently, the Semi truck is in pilot testing with PepsiCo PEP.The snacks and drinks maker’s FritoLay division will be getting an additional 50 trucks in its fleet to a total of 86 units.
• Tesla shares have been on an upward trajectory over the past month, adding more than 30% to the stock’s valuation.The rise has helped erase a big chunk of the electric car giant’s year-to-date decline, paring it back from over 40% to 25% since early January. More recently, Tesla jumped 15% in a day after Elon Musk struck a deal with China to roll out self-driving tech “Full Self-Driving,” or FSD.