Tag: pepsi

Tesla Begins Production of Electric Semi Trucks, PepsiCo Confirms First Deliveries to Start in December

PepsiCo confirmed on Friday it would take delivery of Tesla’s Semi trucks on December 1, becoming the first company to receive its orders of the much-delayed electric vehicle.

PepsiCo said in a statement that the trucks would be used at its Frito-Lay plant in Modesto, California, and its PepsiCo beverages factory in Sacramento. PepsiCo has been aiming to reduce fuel costs and emissions, and reserved 100 of the trucks in 2017.

US companies have pledged to take action to reduce their impacts on the environment, with PepsiCo aiming to achieve net-zero emissions by 2040.

Transportation accounts for roughly 10 percent of the Mountain Dew maker’s greenhouse gas emissions, PepsiCo’s CEO, Ramon Laguarta, has said. Its company-owned fleet travelled 1.2 billion miles (around 2 billion km) last year.

Tesla Chief Executive Officer Elon Musk announced the start of production of the Semi truck late on Thursday on Twitter, saying the vehicles have a 500-mile (805 km) range and are “super fun to drive.”

Musk initially said the trucks would be in production by 2019 but the timeline has been delayed by years due to parts shortages.

Other companies including United Parcel Service, Walmart Canada, and food service distributor Sysco had also placed preorders for Tesla’s Semi trucks.

Walmart, UPS, and Sysco did not respond to requests for comment on the status of their orders or delivery timings.

Neither Musk nor Pepsi disclosed the number of Semis that would arrive at the packaged food company in December. On its website, PepsiCo said it expects 15 of its trucks to deploy by the end of this year.

Tesla, on the other hand, has been struggling to deliver as many electric vehicles as it produces, which has hurt its share price. Musk is also trying to close his $44 billion (roughly Rs. 3.6 lakh crore) takeover of Twitter, which has Tesla investors worried that the billionaire was spreading himself too thin.

© Thomson Reuters 2022

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NFT Projects Churn Millions for High-End Brands Nike, Gucci, Adidas

A total of $260 million (roughly Rs. 2,074 crore) has collectively been bagged by high-end luxury brands including Nike, Gucci, Dolce & Gabbana with the sales of their NFT pieces. NFTs or non-fungible tokens are digital collectibles that are built on blockchain networks, inspired by real-life stuff like clothes and shoes as well as virtual characters like games characters. Owing to the trend of purchasing and collecting NFTs, majorly popularised by celebrities, several brands have been releasing their own NFT series, linked to their identities and products.

Nike, that acquired virtual design studio RTFKT last December to accelerate its metaverse and NFT push has bagged $185.3 million (roughly Rs. 1,478 crore) in NFT sales, citing Dune Analytics data, a report by NFTgators said recently.

Nike’s expensive NFTs have been inspired by its iconic sneaker collections. It released its first NFT collection named ‘Cryptokicks’ in April with a total of 20,000 pieces. The high prices of the NFTs from this collection have gone as high as $134,000 (roughly Rs. 1 crore).

As per a screenshot of Dune Analytics data shared by NFTgators, Italian luxury fashion brand Dolce & Gabbana, jewellery brand Tiffany, and Gucci secured the second, third, and fourth ranks in terms of the revenue they gathered via NFT-related projects.

Budweiser, Time Magazine, and Pepsi also made it to the list.

This development comes at a time when the NFT market is struggling to overcome its ongoing slump.

As per a Reuters report, monthly sales volume on the largest NFT marketplace, OpenSea, plunged to $700 million (roughly Rs. 5,500 crore) in June, down from $2.6 billion (roughly Rs. 20,600 crore) in May and a far cry from January’s peak of nearly $5 billion (roughly 40,000 crore).

By late June the average NFT sale sunk to $412 (roughly Rs. 33,000) from $1,754 (roughly Rs. 1,40,000) at the end of April, according to NonFungible.com, which tracks sales on the Ethereum and Ronin blockchains.

Now that the crypto sector seems to be emerging out of its downturn, its only a matter of time before NFTs again become all the rage among members of the blockchain community.

The sales of NFTs reached $25 billion (roughly Rs. 1,84,700 crore) in 2021 as the speculative crypto asset exploded in popularity, data from market tracker DappRadar showed.

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