SA: EV semis move toward proof of concept

© Alexandru Arion | Dreamstime.com - Futuristic electric concept car charging

SEEKING ALPHA writes:

It looks like it will be a slow haul for the EV truck industry with Tesla (NASDAQ:TSLA) not bringing its Semi to the market until 2021 at the earliest and Nikola (NASDAQ:NKLA) shooting for a 2023 debut. When the EV trucks do arrive, it is anticipated that they will be used primarily for important short haul applications until long haul infrastructure is built out. Looking further ahead, equipment research group Rhein Associates forecasts electric and hybrid models will account for about 6.8% of the North American market for heavy trucks by 2030.

Still, there are reasons to take notice of the burgeoning industry. Last week, Elon Musk told employees that it’s time to go all out and bring the Tesla Semi to volume production. At the same time shares of Nikola soared off excitement over the company’s pickup launch.

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