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PepsiCo, Tesla’s first customer for the Tesla Semi electric truck, gave an update on how its deployment of the electric truck is going and it is going “smoother than expected”.

It even helps with driver retention.

Truck driving is a difficult, thankless job that pays well, but like many other difficult jobs, it has had serious staffing issues for a long time now.

Could electric trucks help?

This is a bit counter-intuitive as many truck drivers are petrolheads who are not your typical electric vehicle buyers. It’s hard to imagine a bunch of truckers excited to drive an electric truck, but that’s exactly what PepsiCo claims.

Yesterday, we reported on Dan Priestley, Tesla’ head of Tesla Semi, giving an update on the program at IAA in Europe.

At the same conference today, Priestley sat down with Dejan Antunović, PepsiCo’s head of electriciation for a “case study” of the brevage and snack company’s deployment of Tesla Semi trucks:

For a “case study”, they didn’t dive too deep into details, but they did push the message that the deployment is going great.

Antunović insisted that the program is going “smoother than expected” and especially with the drivers who are giving positive feedback. The manager went as far as saying that the electric truck helps with driver retention.

First off, Antunović explained what are the company’s trucking needs and how Tesla Semi electric trucks are used in that fleet.

PepsiCo is using the Tesla Semi across three of its fleets:

  1. Pepsi Beverages Local Delivery Fleet – These trucks operate within cities, typically covering about 150 km (93 miles) or less each day.
  2. Pepsi Beverages Transport Fleet – This regional fleet consistently travels up to 800 km (497 miles).
  3. Frito-Lay Fleet – These trucks handle lighter loads over regional routes.

Currently, PepsiCo’s Tesla Semi trucks are based at three depots in California: Modesto, Sacramento, and Fresno. The Modesto depot operates 15 Tesla Semis, all used for regional long-haul routes. In Sacramento, there are 21 Tesla Semis, with 18 assigned to local routes and 3 to regional long-haul routes. The Fresno depot manages 50 Tesla Semis, 45 of which run local routes, while 5 handle regional long-haul routes.

That’s 89 Tesla Semi trucks.

PepsiCo is believed to be a good test partner for electric truck deployment due to their needs for both short and long haul as well as their lighter snack loads and heavier brevage loads.

Without going into the details about cost, PepsiCo appears to back Tesla’s claims that Tesla Semi can replace a diesel truck one-for-one in term of capacity and cost.

The purchase cost is expected to be much more expensive. However, Tesla says that its focus is on Total Cost of Ownership (TCO), which benefits EVs thanks to fuel savings.

During the talk, Priestley said that efficiency has the biggest impact on Tesla Semi’s TCO as the more efficient Tesla makes the truck, the bigger the difference in fuel savings.

Yesterday, Tesla claimed that the electric truck is achieving an impressive 1.6 kWh per mile, which is better than originally expected. Previously, third-party testing proved that PepsiCo’s Tesla Semi had the capacity to travel 1,700 km (1,000 miles) in a single day.

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CNBC Daily Open: The Israel-Iran conflict continues but markets seem unfazed

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CNBC Daily Open: The Israel-Iran conflict continues but markets seem unfazed

Smoke billows from an explosion at the Islamic Republic of Iran Broadcasting (IRIB) building in Tehran on June 16, 2025.

AFP | Getty Images

The U.S. stock market rose and oil prices retreated amid news that Iran wants a ceasefire with Israel. As early as the first days of Israel’s strikes, Tehran reportedly asked several countries to persuade U.S. President Donald Trump to call on Israel for an immediate ceasefire, NBC News reported, citing a Middle East diplomat with knowledge of the situation.

When asked at a news briefing Monday about the prospect of a ceasefire, however, Israeli Prime Minister Benjamin Netanyahu indicated he was not interested in one, according to NBC News. Netanyahu said Israel is “not backing down” from eliminating Iran’s nuclear program.

Regardless of how negotiations — or the lack thereof — play out, it’s clear that countries are placing renewed emphasis on defense. The U.S. Defense Department is turning to artificial intelligence to bolster its forces, announcing on Monday a one-year contract with OpenAI “to address critical national security challenges in both warfighting and enterprise domains.” 

Amid the Monday developments regarding armed conflict and defense considerations, the Trump Organization announced a mobile phone plan called Trump Mobile and a smartphone, clad in gold and emblazoned with an American flag, dubbed “T1.” Putting aside iffy ethical issues about the sitting U.S. president lending his name to consumer products, their unveiling seemed ill-timed and tone deaf. Perhaps the reception over Trump Mobile was spotty.

What you need to know today

Markets recover on hopes of containment
U.S. stocks rose Monday on news that Iran is reportedly seeking a ceasefire with Israel. The S&P 500 was up 0.94%, the Dow Jones Industrial Average climbed 0.75% and the Nasdaq Composite jumped 1.52%. Europe’s Stoxx 600 index added 0.36%. Some analysts, however, are warning that global investors may be underpricing the impact of a conflict between Israel and Iran.

Safe-haven assets dip
In another sign the markets are shrugging off the Israel-Iran conflict — which continued for the fourth consecutive day — both safe-haven assets and oil prices dipped Monday. At the end of the trading day stateside, spot gold prices fell 1.03%, while the dollar index dipped 0.07%. Meanwhile, U.S. crude fell 1.66% to settle at $71.77 and international benchmark Brent lost 1.35% to close at $73.23 a barrel.

‘Golden share’ in U.S. Steel
Shares of U.S. Steel rallied 5.1% Monday after Trump issued an executive order on Friday that allowed the firm and Nippon Steel to finalize their merger so long as they sign a national security agreement with the U.S. government. U.S. Steel said Friday that the agreement, which both companies have signed, includes a golden share for the U.S government, which would give it veto power over many decisions.

OpenAI wins contract from Defense Department
OpenAI has been awarded a $200 million one-year contract to provide the U.S. Defense Department with artificial intelligence tools, the latter announced Monday. It’s the first contract with OpenAI listed on the Department of Defense’s website. In December, OpenAI said it would collaborate with defense technology startup Anduril to deploy advanced AI systems for “national security missions.”

Trump Organization enters telecommunications
The Trump Organization, a company owned by the current U.S. President, on Monday announced a mobile phone plan and a $499 smartphone set to launch in September. The company’s new foray into telecommunications mainly comprises a licensing agreement. On Friday, the president reported that he had made more than $8 million in 2024 from various licensing agreements.

[PRO] What would it take for markets to react?
Equity and energy markets appeared to shake off concerns of a wider conflict in the Middle East on Monday, reversing some of the moves from late last week. Such a response to geopolitical conflict is not unusual, according to one strategist, who explained what it would take for markets to feel the effects of the hostilities.

And finally…

U.S. President Donald Trump raises a fist as he steps off of Air Force One upon arrival at Calgary International Airport, before the start of the G7 summit, in Alberta, Canada, June 15, 2025.

Dave Chidley | Afp | Getty Images

As G7 leaders meet, allies ask: Is Trump with us or against us?

As leaders of the world’s largest advanced economic powers gather in Canada for this year’s Group of Seven summit, ongoing trade instability and turmoil in Ukraine and the Middle East are set to dominate talks.

With uncertainty over those major issues largely arising from the White House’s economic and foreign policy, allies are likely to ask whether Trump stands with them, or against them on major geopolitical points.

Asked if he planned to announce any trade pacts at the summit as he left the White House on Sunday, Trump said: “We have our trade deals. All we have to do is send a letter, ‘This is what you’re going to have to pay.’ But I think we’ll have a few, few new trade deals,” in comments reported by The Associated Press.

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T1 Energy’s (FKA FREYR) new 5 GW US solar factory leaps forward

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T1 Energy's (FKA FREYR) new 5 GW US solar factory leaps forward

T1 Energy (NYSE: TE), formerly FREYR Battery, kicks off preparations for its new solar cell factory, set to be one of the largest in the US.

T1 Energy has chosen Yates Construction as the contractor for preconstruction services and site preparations for its planned $850 million, G2_Austin 5 GW Solar Cell Facility. 

The G2_Austin site is in Milam County, Texas, in the Advanced Manufacturing and Logistix Campus at Sandow Lakes.

It’s expected to create up to 1,800 new direct US advanced manufacturing jobs. Construction is on track to kick off in mid-2025, and the facility is expected to begin producing cells by the end of 2026. There are currently far fewer solar cell manufacturing sites in the US than solar module factories, according to the SEIA.

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On December 24, FREYR announced that it had closed its acquisition of China-headquartered Trina Solar’s 5-gigawatt (GW), 1.35 million-square-foot solar panel factory in Wilmer, Texas. The company renamed the factory G1_Dallas, which employs more than 1,000 people and is now fully online.

Daniel Barcelo, T1’s chairman of the board and CEO, said, “Our facilities will manufacture solar cells and modules to invigorate our economy with abundant energy. We’re excited to work with Yates and Milam County to bring American advanced manufacturing to the heart of Texas and to unlock our most scalable energy resources.”

T1 Energy says it anticipates finalizing commercial terms with Yates Construction as General Contractor.

Read more: FREYR rebrands after killing its $2.6B Georgia battery factory plans


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Kia’s affordable EV2 may be small, but it looks bigger in person [Video]

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Kia's affordable EV2 may be small, but it looks bigger in person [Video]

The EV2 is set to arrive as Kia’s smallest and most affordable electric vehicle next year. With its official debut coming up, the electric SUV was spotted driving on public roads. The electric SUV may be small, but it looks bigger in person.

Kia’s new EV2 is an affordable, small electric SUV

Kia has yet to say precisely how big the EV2 will be, but it’s expected to be around 4,000 mm (157″), or slightly smaller than the EV3 at 4,300 mm (169.3″). That’s even more compact than the outgoing Chevy Bolt EV (163.2″).

During its EV Day event in April, Kia unveiled the Concept EV2, a preview of the entry-level EV that will sit below the EV3.

Although it’s the brand’s smallest EV, Kia promises that it will feel larger when you’re inside. The EV2 sits higher than you’d expect with a wide front end, giving it a bigger presence on the road, similar to the three-row EV9.

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We got a sneak peek at Kia’s affordable EV last month after it was spotted testing on public roads in Korea, but the latest sighting gives us a closer look at the EV2 in its production form. The new video from HealerTV reveals a few details that could look a little different from the concept.

Kia’s new entry-level EV2 spotted driving in public (Source: HealerTV)

The footage shows what appears to be different daytime running lights (DRLs). When Kia unveiled the Concept EV2 in April, it featured a unique split vertical headlight design.

The EV2 spotted driving still has the split design, but both the inner and outer lights appear to be angled more inwards. It’s not a huge difference, but given most of Kia’s new EVs look almost identical to the concepts, this could be something to keep an eye on.

Prices, specs, and more

Despite being an entry-level model, the EV2 is still equipped with advanced technology and features, including vehicle-to-load (V2L) capability, which allows it to power a campsite, home appliances, and other electronics. With OTA updates, it will only get smarter and more advanced over time.

The interior will feature Kia’s new ccNC (connected car Navigation Cockpit), which features dual 12.3″ driver cluster and touchscreen navigation screens in a panoramic display.

Like its other new EV models, it’s also expected to include a 5″ climate control display for nearly 30″ of screen space.

Kia plans to launch the EV2 next year in Europe and “other global regions.” For those in the US, sorry to disappoint, but it’s not expected to make the trip overseas. We do have the EV4, Kia’s first electric sedan, to look forward to.

Kia-EV2-interior
Kia Concept EV2 (Source: Kia)

We will learn prices and final specs closer to launch, but given it will sit below the EV3, it will likely be cheaper than that.

The EV3 starts at £32,995 ($44,800) in the UK and €35,990 ($41,600) in Europe. Kia’s CEO, Ho-Sung Song, told Autocar in 2023 that the company aims to launch the EV2 at around £25,000 ($32,000) in the UK. With new battery technology and other advancements, it could be even more affordable when it arrives next year.

Kia isn’t the only automaker gearing up to launch a new entry-level EV. Last week, we got a glimpse of the upcoming Volkswagen ID.2 after it was spotted in public testing.

Should Kia bring the EV2 to the US? Would you buy one for around $30,000 or even slightly less? Drop us a comment below and let us know.

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