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

December 14, 2017, 4:46 PM UTC

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.