Microsoft co-founder Bill Gates once dismissed Elon Musk's vision for the Tesla Semi as impractical. But on Thursday, Tesla officially started mass production of the all-electric truck. As influencer Sawyer Merritt put it on social media: "Welp, today Tesla officially started mass production of their Semi truck, and it very much works lol."
Gates and Musk have had a rocky relationship, especially after it was revealed in 2022 that Gates held a short position against Tesla. Musk has since said that Tesla will "obliterate all shorts" once it solves autonomy and ramps up Optimus production.
Now, the Semi is entering a world where even political adversaries might need it. California Governor Gavin Newsom and Musk have traded barbs—Newsom called Musk one of the "great disappointments" in March, while Musk has criticized Newsom over California's wealth tax and the state's high-speed rail project. But with President Donald Trump axing California's EV mandate, the Semi could be key to helping the state meet its clean energy and transportation goals, according to a report from Inc. on Thursday.
The Semi's $290,000 price tag is almost half that of diesel-powered rivals, and its touted 500-mile range also beats competitors. Still, officials have cautioned against letting Tesla dominate the sector.
For Tesla, the Semi could provide a much-needed boost. The company has seen U.S. sales dwindle amid shrinking EV demand and a less favorable policy environment.
According to MarketDash rankings, Tesla offers poor value but excellent growth and quality. It also fails to provide a favorable long-term price trend.
Price Action: Tesla (TSLA) declined 2.37% to $381.63 at market close on Thursday, but declined 0.06% to $381.40 during the overnight trading session.
