Connect with us

News

Tesla Semi secures one of its biggest orders to date from US-Canada logistics company

[Credit: Emile Bouret/Instagram]

Published

on

Tesla recently received reservations for 150 Semi trucks from Pride Group Enterprise (PGE), which operates businesses in equipment, rental, leasing, logistics, and sales. While the firm has placed reservations for 150 trucks for now, PGE has also made room to increase its order to 500 Tesla Semis in the future. The EV automaker has already received the deposits for the first 150 Semis ordered by the trucking company.

According to a press release, the company has dedicated significant resources to the research of electric trucks over the past few years. It looked into the technology, infrastructure, and capital requirements that are necessary for a network to succeed. It seems that PGE concluded Tesla offered the best Class 8 all-electric truck on the market, based on its recent Semi reservations. However, PGE’s Vice President of Operations Aman Johal also stated that the company is looking forward to working with other OEMs producing Class 8 trucks in the future as well.

“With the addition of electric trucks to our portfolio of products, our service offering to our customers continues to evolve. Our reservation with Tesla is the first of many and we continue to work with all OEM partners and have more exciting projects in the works. We have put a lot of focus on growing from an equipment supplier to a complete one-stop-shop for the transportation industry. Some of the other offerings we’ve added include short-term rentals, full-service maintenance, in-house OEM warranty work and 3PL solution, to name a few,” he said.

The Tesla Semi visits Yandell Truckaway. (Photo: Arash Malek)

As noted by PGE, the 150 Tesla Semis will be distributed in locations that are particularly friendly to the electric vehicle movement. Johal also noted that the Class 8 battery-electric trucks will be a good way to gauge how the market accepts all-electric long-haul options.

“With support from one of our long-term financial partners, Hitachi Capital, we are very excited to bring this innovative product to our strong customer base, helping forge a new path in clean transportation. We believe that electrification is the way of the future as we work together across multiple industries to reduce our carbon footprint. As well, we have the option to increase our order as we gauge customer acceptance of this new technology,” he said.

Johal further emphasized that electric trucks will likely provide benefits, especially in areas where diesel-powered long-haulers are challenged such as maintenance and downtime. Granted, trucks like the Semi will have their challenges too, but the PGE executive noted that the company is already laying the groundwork for its electric truck deployment. This includes the buildout of charging infrastructure, parking lots, and full maintenance at its locations.

Advertisement
(Credit: Tesla)

“Pride Group Enterprises’ vision is to invest in facilities that will support charging, full-service maintenance and a consistent supply of electric trucks on North American highways. We have first-hand knowledge of the transportation industry across multiple verticals and we (PGE) strongly believe that electric truck technology will overcome many challenges facing traditional diesel technology such as the related maintenance and associated downtime,” he stated.

PGE is one of many prominent companies that has made reservations for the Tesla Semi. PepsiCo, Walmart, and UPS are among others have invested in Semi trucks as well. PepsiCo was one of the first companies to make a significant reservation of 100 Semis to Tesla. In September 2020, Walmart Canada announced it would be tripling its Tesla Semi orders to 130.

Energy analysts Wood Mackenzie predicted the Class 8 EV truck segment could grow to over 54,000 units in the United States by 2025, an estimate that may prove conservative once vehicles like the Semi begin customer deliveries. The US electric truck industry’s growth depends on the policy and financial support receives in the next few years. According to Wood Mackenzie’s analysis, there were only 2,000 heavy-duty electric trucks deployed in the US last year. But as more companies like PGE pay more attention to local energy transition goals and become more environmentally conscious, the segment will see growth.

Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

Advertisement
Comments

News

Why Tesla’s Q4 performance could shock many after incredible Q3

There is still some residual impact to be felt as we enter Q4, and there is a potential shock coming to many investors as it could be stronger than what many think:

Published

on

Credit: Tesla

Tesla reported vehicle deliveries and energy deployments for the third quarter of 2025 today, blowing analyst estimations from Wall Street firms completely out of the water with its strongest three-month performance in company history.

The strong performance, which resulted in nearly half a million vehicle deliveries in the quarter, was largely driven by the momentum of the EV tax credit, which expired at the end of September, marking the end of the $7,500 discount that was previously available.

Tesla hits record vehicle deliveries and energy deployments in Q3 2025

This was a massive contributor to Tesla’s record-high in vehicle deliveries, as consumers rushed to take advantage of the credit.

There is still some residual impact to be felt as we enter Q4, and there is a potential shock coming to many investors as it could be stronger than what many think:

EV Tax Credit Deliveries Will Continue Through Q4

Despite the credit’s expiration, people will still be able to take advantage of it because the IRS changed the rules mid-quarter.

Prospective buyers can utilize the credit after September 30 if they place an order for an EV and make a marginal payment on the car.

Tesla’s $250 order deposit qualified as the marginal payment, so as long as the order was submitted before the end of the day on September 30, they could still take delivery in Q4 or even Q1 and still take advantage of the credit.

Tesla set to win big after IRS adjusts EV tax credit rules

With the Model Y Performance launching in the U.S. on September 30, that undoubtedly contributed to some orders. However, there are likely many people who ordered in the latter portion of Q3 and have not yet taken delivery. These will all contribute to Q4 delivery figures.

Seasonal Holiday Boost

Tesla traditionally has its strongest quarters in Q4, as the company typically introduces initiatives such as price cuts, incentives, and other offers to close out the year strong.

Car buyers are more likely to jump at these offers as well, as gifts for either themselves or others. What Tesla does in the final quarter of the year is usually boosted by whatever types of offers it can make.

Affordable Model Production Ramp

Tesla is likely preparing for the launch of its affordable model, which is essentially a stripped-down Model Y.

Some rumors have been circulating within the community, indicating that the company is nearing the sale of this vehicle, which is coded within Tesla’s website as the “Model Y Standard.”

If Tesla is able to lock in some good pricing on its affordable model, Tesla could see its quarterly figures return to QoQ growth, something that the company has not had in a few years.

Continue Reading

News

Tesla hits record vehicle deliveries and energy deployments in Q3 2025

As per Tesla’s Q3 2025 vehicle delivery and production report, the bulk of the company’s numbers came from its mass-market lineup.

Published

on

Tesla (NASDAQ:TSLA) reported record-breaking results for the third quarter of 2025, producing 447,450 vehicles and delivering 497,099 units worldwide. 

The company also deployed 12.5 GWh of energy storage products, setting a new record in its fast-growing energy business.

Model 3/Y domination

As per Tesla’s Q3 2025 vehicle delivery and production report, the bulk of the company’s numbers came from its mass-market lineup. The Model 3 sedan and Model Y crossover accounted for 435,826 units produced and 481,166 delivered in the quarter. This is quite impressive considering that both the Model 3 and Model Y are still premium-priced vehicles with numerous competitors that are significantly more affordable.

Other models, including the Model S, Model X, and Cybertruck, contributed 11,624 vehicles produced and 15,933 delivered. Beyond vehicles, Tesla’s energy business posted its best quarter to date, deploying 12.5 GWh of storage systems.

Credit: Tesla

Q3 2025 earnings call date

Tesla’s third-quarter results are extremely impressive, and they exceed Wall Street’s estimates by a significant margin. As per Benchmark analyst Mickey Legg, who had a delivery estimate of 442,000 vehicles in Q3, Wall Street consensus was at 448,000 units. Even more optimistic analysts estimated that Tesla would only post deliveries in the mid-460,000s.

Investors will gain further insight later this month when Tesla reports full financials for the quarter. The company will release Q3 2025 earnings after market close on October 22, followed by a Q&A webcast at 4:30 p.m. Central Time.

Advertisement
Continue Reading

Elon Musk

Elon Musk is halfway towards becoming the world’s first trillionaire

Musk’s fortune remains heavily tied to Tesla, which has rallied nearly 100% since April.

Published

on

Credit: Tesla Manufacturing/X

Elon Musk has reached a new milestone by becoming the first individual in history to achieve a net worth of $500 billion. ForbesReal-Time Billionaires tracker confirmed the record Wednesday afternoon after Tesla stock gained nearly 4%, adding an estimated $9.3 billion to Musk’s net worth in a single day. 

He now sits more than $150 billion ahead of Oracle co-founder Larry Ellison, whose net worth also stands at a very impressive $350 billion.

Tesla stock leads wealth surge

Musk’s fortune remains heavily tied to Tesla, which has rallied nearly 100% since April, when the CEO announced he would step back from outside roles to focus more on the EV maker. The company’s market capitalization is back within 10% of its all-time peak, lifting the value of Musk’s 12% stake to about $191 billion. 

Beyond this, his 2018 compensation package, which was rescinded by a Delaware judge last year but is still under appeal, could unlock additional stock worth more than $130 billion if reinstated, Forbes noted. Investors see Musk’s refocused leadership as a stabilizing force for Tesla as it pursues ambitious global growth. Tesla has also proposed a new compensation plan for Musk that could bring the company’s market cap to $8.5 trillion and add an additional $900 billion to the CEO’s net worth. 

SpaceX and xAI boost portfolio value

While Tesla drives much of his wealth, Musk’s stakes in SpaceX and xAI have added significant upside to his net worth. SpaceX, his private rocket company, recently hit a $400 billion valuation in a private tender offer, valuing Musk’s 42% stake at $168 billion. Meanwhile, xAI Holdings, which merged with social platform X earlier this year, is worth an estimated $113 billion, giving Musk another $60 billion on paper. 

Advertisement

These ventures, combined with Tesla’s resurgence, have pushed Musk’s net worth past the half-trillion-dollar mark and highlighted his reach across multiple industries, from clean energy to space, artificial intelligence, brain implants, and tunneling.

Continue Reading

Trending