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Tesla Semi

Tesla just received what is the largest-known preorder of its new Semi truck from UPS. Shares of Tesla are up 0.51% on Tuesday at $340.60 following the news.

UPS, which operates one of the largest commercial trucking fleets in the world, has preordered 125 of Tesla’s all-electric Semis. UPS said its attraction to the new vehicles stems from their low cost of operation, enhanced safety features and cleaner operation.

UPS did not disclose how much it paid to preorder the Semis, but Tesla is currently offering pre-orders for $20,000 on its website. At that price, UPS’s preorder would cost about $2.5 million. The order surpasses Pepsi’s 100 vehicle preorder and puts the running preorder count of Tesla Semis close to 400.

UPS said it has already provided Tesla with “trucking lane” information to help evaluate the Semi’s potential performance in UPS’s fleet. UPS hopes a quarter of new vehicles it purchases will use an alternative fuel by 2020.

Tesla’s Semis aren’t expected to go into production until 2019.

Read more about previous preorders for Tesla Semis here.

tesla stock price

SEE ALSO: Tesla is rallying after Pepsi places an order for 100 Semis

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