Saia Powers Up With Tesla Semis - Details Here

Transport company Saia, Inc. (NASDAQ:SAIA) announced a new partnership with Tesla, Inc., by introducing two Tesla Semi trucks to its fleet.

This collaboration seems important as Saia celebrates its 100th anniversary. As one of the early adopters of Tesla’s electric semi-trucks, Saia is positioning itself at the forefront of sustainable transportation within the logistics industry.

The Tesla Semi trucks bring technology that promises to transform freight transportation. Saia’s Executive Vice President of Operations, Patrick Sugar, emphasized that the partnership highlights the company’s dedication to evolving while honoring the values that have guided Saia for a century.

Also Read: Dow Dips Over 1,100 Points, Falling For 10th Session As Powell Adopts Hawkish Stance: Greed Index Moves To ‘Fear’ Zone

The introduction of these electric trucks is a key step toward reducing emissions and minimizing environmental impact, aligning with Saia’s long-standing commitment to sustainability.

Earlier this year, Saia tested the Tesla Semi, evaluating its range, payload capacity, and overall performance.

The results were positive, with the trucks demonstrating smooth acceleration, efficiency, and the ability to handle steep inclines while carrying heavy loads. Saia reported achieving 1.73 kWh per mile during the demonstration, showcasing the truck’s impressive power and efficiency.

Earlier this month, Saia announced that it has closed on an amendment to its unsecured revolving credit facility to increase its borrowing capacity from $300 million to $600 million.

The amendment also extends the maturity of the existing credit facility to December 2029.

Price Action: SAIA shares are trading lower by 1.16% to $504.75 at last check Thursday.

Read Next:

• Top 3 Tech And Telecom Stocks That May Crash This Month

Image via Shutterstock.