A Tesla (TSLA) big rig could be a huge event for the trucking industry.
"We believe Tesla's truck reveal in September will be one of the biggest catalysts the trucking industry has seen in decades. We also expect Tesla will announce carrier/shipper partners," Morgan Stanley analyst Adam Jonas wrote in a note on Monday.
Jonas added, "If Tesla opens up its order books and picks up a large number of orders in a short time-frame (we note that relatively unheralded Nikola Motor picked up 8,000 orders in just 6 months), it could set off an arms race among both carriers and incumbent OEMs to get electric, autonomous trucks to market."
Tesla Inc. is developing a long-haul, electric semi-truck with autonomous driving capabilities that move in "platoons" and automatically follow the direction of a lead vehicle, Reuters reported recently.
The electric carmaker is said to be nearing the completion of a prototype of the trucks, according to an email obtained by Reuters between Tesla and the Nevada Department of Motor Vehicles.
One person that probably isn't feeling this news is billionaire Warren Buffett.
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"Autonomous vehicles would hurt us if they spread to trucks," Buffett told shareholders at Berkshire Hathaway's (BRK.A) annual meeting in May. If self-driving trucks become predominant on the roads, it could steal business from Berkshire owned railroad Burlington Northern, Buffett hinted.