PepsiCo CEO says he expects delivery of first Tesla Semis this quarter

Ramon Laguarta, chief government officer of PepsiCo Inc., stands for {a photograph} earlier than a closing bell ceremony at a Nasdaq Inc. distant location in Atlanta, Georgia, on Friday, Feb. 1, 2019.

Elijah Nouvelage | Bloomberg | Getty Photos

PepsiCo CEO Ramon Laguarta mentioned on Monday that the corporate is anticipating its first supply of Tesla Semi vans within the fourth quarter.

Laguarta was talking from the twenty sixth United Nations Local weather Change Convention, or COP26. Throughout an interview on “Squawk on the Road,” CNBC’s Jim Cramer requested about PepsiCo’s plans to cut back carbon dioxide emissions.

“You will have your personal truck community, you might have your personal supply system. What are you going to do to have the ability to minimize the emissions from that? As a result of it is a fantastic asset but it surely additionally generates diesel fumes. Would you be shopping for a Rivian product, would you be shopping for anyone’s vans that use hydrogen? What’s your plan?”

“Transportation is about 10% of our general fuel emissions so it is essential and we’re engaged on totally different options,” responded Laguarta. “We change our fleet often, each ten years roughly…and we’re already beginning to purchase electrical vans truly from Tesla. I imply I do not wish to promote anyone however that is the model we’re utilizing to date and we’re getting our first deliveries this This fall.” He didn’t say what number of vans the corporate is anticipating to obtain.

The feedback come virtually four years after PepsiCo first announced it might buy 100 Tesla Semi vans. It was the most important identified pre-order of the automobile on the time.

The vans had been scheduled to start manufacturing in 2019, however that manufacturing date was delayed. Tesla CEO Elon Musk mentioned during Tesla’s Q4 2020 earnings call in January 2021 that manufacturing of the Semi is on maintain till Tesla could make a excessive quantity of its 4680 battery cells. On the corporate’s Q2 earnings call in July, Tesla mentioned it was pushing the Semi program to 2022 resulting from provide chain challenges and the restricted availability of battery cells.

In response to web page 7 of Tesla’s most recent earnings update, the Semi remains to be “in improvement,” the corporate will not be itemizing any put in annual manufacturing capability for it, and its manufacturing location remains to be “TBD.” By the use of distinction, the corporate lists capability of multiple million automobiles per yr for the Fashions 3, S, X and Y mixed, with extra capability for the Mannequin Y below building in Berlin and Austin, Texas.

CNBC’s Lora Kolodny contributed to this report.

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