Tesla’s Electric Semi Is More Expensive Than Initially Thought, $200K For ‘Founders Series’

The electric Semi trucks that Tesla CEO Elon Musk unveiled two weeks ago set the world abuzz with excitement. At the time, Musk did not reveal the price of the Semis, which prompted some analysts to make predictions that it could start at $100,000. Unfortunately, the actual price is quite a bit higher, with the base model costing $150,000.

The price point information was revealed by Business Insider recently, noting how Morgan Stanley analysts initially thought that the Tesla Semi would cost $100,000 and that the battery would be offered separately as a lease. It seems that this is not the case. For the base version, which runs only 300 miles in a single charge, the cost will be $150,000.

Meanwhile, the longer-range model, which can go for 500 miles on a single charge will cost $180,000. There will be a “Founders Series” of the Semis as well, which will cost $200,000 and will need to be paid up front.

The steep prices of the trucks didn’t seem to deter some companies that have already placed their orders, which reportedly include Walmart and J.B. Hunt. A deposit of $20,000 is required to reserve a unit, as well.

During the unveiling of the trucks, Musk said that the vehicles will be more cost-effective when compared to standard diesel versions per mile. However, the prospect of having to pay significantly more to get an electric Semi instead of a conventional one might deter some potential customers.

There’s also the matter of criticisms from many in the financial and auto industry who are saying that the Semis are just cash-grabs on the part of Tesla, Futurism reports. The company has been experiencing problems with its Model 3 production and analysts are saying that it could run out of money as soon as Summer of next year.