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Volvo Trucks starts production of electric semis

Credit: Volvo Trucks

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Volvo Trucks has announced that they have begun production of their all-electric semi-trucks.

According to a press release from the company, Volvo Trucks is beginning production of their all-electric heavy trucks that they will sell in Europe. The trucks are being produced at the company’s Tuve facility in Gothenburg, Sweden, and will soon be made at the brand’s Ghent, Belgium plant as well.

While Volvo Trucks has already been selling smaller electric offerings, these new heavy trucks represent two-thirds of Volvo Trucks’ best-selling vehicles. This includes the long hauler Volvo FH, the multipurpose Volvo FM, and the offroad capable Volvo FMX.

Each of these new trucks is based on the same all-electric platform. The powertrain uses three electric motors capable of 650 horsepower and 1770 pound-feet of torque, allowing the truck to tow a maximum of 23 tonnes. The trucks have a maximum range of 186 miles but are sadly charger bound for 2.5 hours using 250kw DC fast charging (0-80%).

These specifications fall significantly behind the brand’s own American electric offering, the Volvo VNR Electric. The Volvo VNR Electric is capable of 275 miles of range, can charge to 80% in only 90 min via DC fast charging, and produces 455 horsepower and 4,051 pound-feet of torque.

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Credit: Volvo Trucks

Volvo is early in the all-electric heavy truck segment. Tesla has not yet been able to ship its semi offering, and even legacy brands such as Peterbilt and Mercedes have fallen behind. Only Nikola, of all brands, has been able to capitalize on the electric semi market.

The market for all-electric big rigs will likely only grow in the near future as people look to make their shipping processes more and more energy efficient and shipping companies look to reduce costs by going electric. But the question remains, which company will control the electric semi-truck market by the time countries more strictly regulate ICE vehicles? That answer remains unclear.

What do you think of the article? Do you have any comments, questions, or concerns? Shoot me an email at william@teslarati.com. You can also reach me on Twitter @WilliamWritin. If you have news tips, email us at tips@teslarati.com!

Will is an auto enthusiast, a gear head, and an EV enthusiast above all. From racing, to industry data, to the most advanced EV tech on earth, he now covers it at Teslarati.

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Tesla gets price target increase on Wall Street, but it’s a head-scratcher

Delaney’s price target on Tesla shares went up to $395 from $300. Currently, Tesla is trading between $420 and $430, making the new price target from Goldman Sachs a bit of a head-scratcher.

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Credit: Cybertruck | X

Tesla (NASDAQ: TSLA) received a price target increase from a Wall Street analyst today, who noted in his report that the company’s shares could rise or fall based on its execution in robotics and autonomy.

However, the price target boost still fell below Tesla’s current trading levels.

Mark Delaney of Goldman Sachs said in a note to investors today that Tesla has a significant opportunity to solidify itself as one of the stable and safe plays in the market if it can execute on its two key projects: humanoid robots and autonomy.

In the note, Delaney said:

“If Tesla can have [an] outsized share in areas such as humanoid robotics and autonomy, then there could be upside to our price target.”

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Delaney’s price target on Tesla shares went up to $395 from $300. Currently, Tesla is trading between $420 and $430, making the new price target from Goldman Sachs a bit of a head-scratcher.

He went on to say that Tesla could also confront outside factors that would limit the stock’s ability to see growth, including competition and potentially its own lack of execution:

“…although if competition limits profits (as is happening with the ADAS market in China) or Tesla does not execute well, then there could be downside.”

The note is an interesting one because it seems to point out the blatantly obvious: if Tesla performs well, the stock will rise. If it doesn’t, the stock price will decline.

We discussed yesterday in an article that Tesla is one of the few stocks out there that does not seem to be influenced by financials or anything super concrete. Instead, it is more influenced by the narrative currently surrounding the company, rather than the technicals.

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Tesla called ‘biggest meme stock we’ve ever seen’ by Yale associate dean

Tesla’s prowess in robotics and autonomy is strong. In robotics, it has a very good sentiment following its Optimus project, and it has shown steady improvement with subsequent versions of the robot with each release.

On the autonomy front, Tesla is expanding its Robotaxi platform in Austin every few weeks, and also has a sizeable geofence in the Bay Area. Its Full Self-Driving suite is among the most robust in the world and is incredibly useful and accurate.

The company can gain significant value if it continues to refine the platform and eventually rolls out a driverless or unsupervised version of the Full Self-Driving suite.

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Tesla addresses door handle complaints with simple engineering fix

“We’ll have a really good solution for that. I’m not worried about it.”

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Tesla Model S self-presenting door handle
Tesla Model S self-presenting door handle (Credit: TesBros)

Tesla is going to adjust one heavily scrutinized part of its vehicles after recent government agencies have launched probes into an issue stemming from complaints from owners.

Over the past few days, we have reported on the issues with Tesla’s door handle systems from both the Chinese and American governments.

In China, it dealt with the Model S, while the United States’ National Highway Traffic Safety Administration (NHTSA) reported nine complaints from owners experiencing issues with 2021 Model Ys, as some said they had trouble entering their car after the 12V battery was low on power.

Bloomberg, in an interview with Tesla Chief Designer Franz von Holzhausen, asked whether the company planned to adjust the door handle design to alleviate any concerns that regulatory agencies might have.

Regarding the interior latch concerns in the United States:

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  • Von Holzhausen said that, while a mechanical door release resolves this problem, Tesla plans to “combine the two” to help reduce stress in what he called “panic situations.”
  • He also added that “it’s in the cars now…The idea of combining the electronic and the manual one together in one button, I think, makes a lot of sense.” Franz said the muscle memory of reaching for the same button will be advantageous for children and anyone who is in an emergency.

Regarding the exterior door handle concerns in China:

  • Von Holzhausen said Tesla is reviewing the details of the regulation and confirmed, “We’ll have a really good solution for that. I’m not worried about it.”

The new Model Y already has emergency mechanical door release latches in the back, but combining them in future vehicles seems to be an ideal solution for other vehicles in Tesla’s lineup.

It will likely help Tesla avoid complaints from owners about not having an out in the event of a power outage or accident. It is a small engineering change that could be extremely valuable for future instances.

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Elon Musk calls out viral claim of 10,000 Tesla Optimus deal: “Fake”

For now at least, Tesla seems determined to focus on the development of Optimus V3.

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Credit: Tesla Optimus/X

Elon Musk has provided some clarification to recent reports suggesting that PharmAGRI, a US pharmaceutical and agricultural infrastructure company, is looking to deploy 10,000 Optimus robots for its operations.

Musk posted his clarification on social media platform X.

Alleged Optimus purchase

Recently, reports emerged stating that PharmAGRI Capital Partners will be tapping into Tesla’s humanoid robots for its operations. The firm claimed that it had executed a Letter of Intent with Tesla to deploy up to 10,000 Optimus Gen 3+ humanoid robots across its SuperPharm and CEA facilities. This should allow the company to automate its labor and ensure diversion control.

A comment from Lynn Stockwell, Chairwoman & CEO, suggested that the company really was partnering with Tesla. “With Tesla robotics powering our facilities and DEA-licensed infrastructure in place, we can scale with precision, meet federal sourcing mandates, and deliver therapies that are compliant, secure, and American-made,” she said. 

Elon Musk clariies

News of PharmAGRI’s Optimus claims quickly spread on social media, though some Tesla watchers argued that it seemed unlikely that the EV maker will commit two legions of Optimus robots to a rather unknown company this early. Some pointed out that Tesla typically commits to high-profile customers to test its early products, such as PepsiCo with the Tesla Semi. 

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Photos from PharmAGRI’s website depicting Tesla Optimus bots, as well as the rather basic look of the website itself, also brought more reservations to the company’s claims. Ultimately, Elon Musk weighed in on the matter, responding to a post about PharmAGRI’s Optimus-filled webpage. Musk was quick and direct, simply stating, “Fake.”

Elon Musk’s comments were quite unsurprising considering that Optimus is still very much in active development, and thus, it is quite unlikely that the company is already taking orders or even Letters of Intent from potential customers at this time. For now at least, Tesla seems determined to focus on the development of Optimus V3, which Musk has noted will be “sublime.”

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