Tesla Is Gearing Up to Unveil Its Electric Semi-Truck

Iconoclast, innovator, and financial app developer favorite Elon Musk is one step closer to realizing another one of his big dreams. A year ago, Tesla indicated that its engineers may be working on an electric semi-truck. As of late last week, Reuters is reporting that the company will reveal its first big rig in September. The truck will reportedly be able to travel 200-300 miles per charge, perfect for regional hauling. According to a report in 2013 from the National Renewable Energy Laboratory, nearly 80% of all domestic freight runs are 500 miles or less. Trucks handle a vast majority of those hauls. If Tesla can tap into this multi-billion dollar market, it could reap significant profits.

Until Tesla makes its official semi announcement next month, all financial app developers have to go on is speculation and rumors. Ryan Popple, CEO of eco-friendly bus company Proterra, has theorized that Tesla’s semi program may be used to transport Gigafactory batteries to Tesla’s manufacturing plant (and lo and behold, the Gigafactory and plant are less than 250 miles apart). Scott Perry, an exec from fleet management company Ryder in Miami, got an early look at Tesla’s trucking tech and said that while the company is focusing on its “day cab,” “I’m not going to count them out for having a strategy for longer distances or ranges.” Unsurprisingly, there have also been reports that Tesla wants to apply its self-driving technology to its semi-trucks.

Of course, the big question on Miami financial app developers minds is whether or not Tesla can pull off entry into the world of trucking. There are already doubts as to whether or not the company can make good on its hype and become a major player in the automobile industry. Musk himself has said that the company is hurtling towards “manufacturing hell” as it increases production of its relatively affordable Model 3. Over the next year, Tesla will be doubling the number of Model 3 it produces in a week, which will be a crucial test in the company’s continued growth. Will mass producing big rigs add too much strain as the company grows? If Tesla can pull it off, it stands to make a bundle.