Tesla is rising after Anheuser-Busch places an order for 40 electric semis

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Tesla

Tesla is rising after receiving its largest pre-order for its electric semi trucks to date.

Shares are up 0.52% at $314.88 Thursday after Anheuser-Busch announced it had placed an order of 40 semi trucks. Anheuser-Busch did not say how much it paid to reserve the vehicles, but Tesla is currently offering reservations for $20,000 on its website, which suggests $800,000.

The move matches a trend from Anheuser-Busch, which completed what it calls the first-ever autonomous beer delivery in October of last year. The company autonomously drove a truckload of its beer 132 miles thanks to a partnership with the Uber-owned company Otto.

Anheuser-Busch said the trucks would help it cut its carbon footprint 30% by 2025, equivalent to removing about 50,000 cars from the road.

The move is a big vote of confidence for Tesla, as the company launched its Semi in the middle of struggling through its Model 3 production. The company has had issues producing enough vehicles to match the demand of its approximately 450,000 vehicle-strong list of preorders. Tesla said in its most recent earnings call, however, that the problem was a bottleneck in the assembly of the car’s batteries, and it is working to solve the issue.

Tesla has said it will begin production of its Semi in 2019.

Read more about the Semi here.

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Markets Insider