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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
Tech

Tesla’s All-Electric Semi Truck Has Some New Competition

By
Chris Morris
Chris Morris
Former Contributing Writer
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By
Chris Morris
Chris Morris
Former Contributing Writer
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December 14, 2017, 11:46 AM ET
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Elon Musk’s plan to conquer the world of commercial trucking may have encountered its first speed bump.

Thor Trucks, a Los Angeles-based startup, has unveiled an all-electric semi that offers corporate customers an alternative to the Tesla Semi.

Thor’s ET-One is scheduled to hit roads in 2019, the same time expected for the Tesla Semi (TSLA). ET-One has a range of 300 miles off a single battery charge while carrying 40 tons of freight. Tesla offers two semi models, one that has a range of 300 miles and another with a 500-mile range, both off of a single charge. (Tesla has not yet publicly discussed freight limits.) Both Thor and Tesla’s 300-mile range trucks have a $150,000 price tag. Tesla’s 500-mile range truck will cost $180,000.

An average Class 8 semi truck costs around $120,000 and burns about $70,000 worth of diesel fuel per year, according to The Verge.

The hook for companies to purchase an all-electric truck versus a non-electric one, according to Thor, is in the after-purchase expenses. The ET-One will cost companies 60% less per mile in maintenance and 70% less per mile in fuel when compared to non-electric semi trucks.

Tesla has already booked some big orders for its semi. Anheuser Busch placed an order for 40 earlier this month. Walmart pre-ordered 15 in November and trucking company J.B. Hunt has reportedly pre-ordered as many as 40 itself.

Thor, perhaps realizing Tesla’s head start, says it hopes to work alongside the electric car giant, rather than directly compete against it.

About the Author
By Chris MorrisFormer Contributing Writer

Chris Morris is a former contributing writer at Fortune, covering everything from general business news to the video game and theme park industries.

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