- PepsiCo is expecting the first deliveries of Tesla Semi trucks in the fourth quarter, CEO Ramon Laguarta told Businesshala on Monday.
- The news of the slated deliveries comes nearly four years after the company first announced that it would purchase 100 vehicles.
PepsiCo CEO Ramon Laguarta said on Monday that the company is expecting the first deliveries of Tesla Semi trucks in the fourth quarter.
Laguarta was speaking from the 26th United Nations Climate Change Conference or COP26. During an interview on “Squawk on the Street,” Businesshala’s Jim Cramer asked about PepsiCo’s plans to reduce carbon dioxide emissions.
“You have your truck network, your own delivery system. What are you going to do to be able to cut emissions out of it? Because it’s a huge asset but it also generates diesel fumes. Would you like to buy a Rivian product? Will you be buying someone’s trucks that use hydrogen? What are your plans?”
“Transportation accounts for about 10% of our total gas emissions, so it is important and we are working on different solutions,” Lagarta replied. “We change our fleet regularly, every ten years more or less… and we are already starting to buy electric trucks from Tesla. I mean I don’t want to promote anyone but that’s the brand. Which we are using till now and we are getting our first delivery in this Q4.” He did not say how many trucks the company expects to get.
The comments come nearly four years after PepsiCo first announced it would buy 100 Tesla Semi trucks. This was the largest known pre-order of the vehicle at the time.
Production of the trucks was supposed to begin in 2019, but that production date was delayed. Tesla CEO Elon Musk said during Tesla’s Q4 2020 earnings call in January 2021 that Semi production continues until Tesla can make higher quantities of its 4680 battery cells. At the company’s Q2 earnings call in July, Tesla said it was extending the quasi program to 2022 due to supply chain challenges and limited availability of battery cells.
According to page 7 of Tesla’s most recent earnings update, Semi is still “in development”, the company is not listing any installed annual production capacity for it, and its manufacturing location is still “TBD”. In contrast, the company lists a capacity of more than one million vehicles per year for the combined Model 3, S, X and Y, with more capacity for the Model Y under construction in Berlin and Austin, Texas.
Businesshala’s Lora Kolodny