This article first appeared on GuruFocus .
Tesla ( TSLA , Financials ), is beginning deliveries of its Semi electric truck to its first group of customers , moving the long-delayed vehicle into a more important test: whether the company can produce it at scale.
The deliveries come nearly nine years after CEO Elon Musk first unveiled the heavy-duty electric truck. Tesla reiterated plans to build up to 50,000 Semis annually at its plant in Sparks, Nevada, although it did not provide a timeline for reaching that level or disclose current production volumes.
PepsiCo (PEP), DHL and US Foods were among the customers featured at Tesla's delivery event Thursday.
Tesla says the long-range version of the Semi can travel 500 miles on a charge while fully loaded. Dan Priestley, Tesla's director of Semi engineering, said customers have validated that range in real-world use. A standard version offers 325 miles.
Musk also said the order waiting list is already significant, although Tesla did not disclose the number of orders or pricing for the trucks.
The Semi gives Tesla another potential growth market beyond passenger EVs, but reaching meaningful scale will depend on production, charging infrastructure and fleet adoption.
The next catalyst is Tesla's production ramp in Nevada and evidence of how quickly it can move toward its 50,000-truck annual capacity target.
