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Exclusive – PepsiCo to Introduce 100 Tesla Semis in 2023 – exec via Reuters

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© Reuters. FILE PHOTO: Tesla’s new electric semi-truck is unveiled during a presentation in Hawthorne, California, US, November 16, 2017. REUTERS/Alexandria Sage/File Photo

Written by Jessica DiNapoli and Hyunjoo Jin

NEW YORK/SAN FRANCISCO (Reuters) – PepsiCo (NASDAQ:) plans to roll out 100 of its reserved Tesla Heavy-Duty (NASDAQ::) Semis in 2023, as it will begin making deliveries to customers like Walmart (NYSE:) and Kruger said. (NYSE: ), the soft drink maker’s top supply chain official, told Reuters on Friday.

PepsiCo Vice President Mike O’Connell said in an interview that PepsiCo Inc. is buying large trucks “outright” and is modernizing its plants, including installing four 750-kilowatt Tesla Inc. charging kiosks each in Modesto and Sacramento. The $15.4 million State of California grant and $40,000 federal subsidy per vehicle help offset part of the costs.

“It’s a great starting point for electrification,” said O’Connell, who oversees the company’s fleet of cars.

“Like any early technology, incentives help us build the software,” he added, adding, “There are a lot of development and infrastructure costs.”

PepsiCo, which ordered Semis in 2017, is the first company to trial them as a way to reduce its environmental impact.

United Parcel Service Inc (NYSE::) and food delivery company Cisco (NYSE::) has also booked the trucks, while retailer Walmart Inc. is testing alternatives.

PepsiCo plans to use Semis have been reported, but O’Connell provided new details about how the company will use them and the timeline for their deployment.

The company’s Frito-Lay division sells lightweight food products, making it a good candidate for electric trucks whose heavy batteries can limit charging capacity. PepsiCo has deployed 36 Tesla electric trucks, including 15 in Modesto and 21 in Sacramento, to date.

O’Connell said PepsiCo’s new Semis can haul Frito-Lay food products for about 425 miles (684 km), but for heavier loads of soda, the trucks will make shorter trips of about 100 miles (160 km).

“Towing a trailer full of chips isn’t the most difficult and daunting question,” said Oliver Dixon, senior analyst at the consulting firm Guidehouse.

“I still think Tesla has a lot to prove to the broader commercial vehicle market,” Dixon said, noting Tesla’s unwillingness to provide information on payload and pricing.

The company has dedicated some trucks to deliver goods to Wal-Mart and grocery stores such as Kroger Corporation and Albertsons Cos Inc.

All Semis going to PepsiCo will have a range of 500 miles (805 km). O’Connell added that he doesn’t know when Tesla will start deploying 300-mile (480 km) trucks. When Tesla starts building them, he said, PepsiCo will “shift those up” in its fleet.

PepsiCo declined to release price details for the trucks, a figure Tesla has kept silent about. Mark Parrott of Planet Moran, a consulting firm, said competing cars sell for between $230,000 and $240,000. He added that the Tesla Semi’s 500-mile range could be priced at a premium because its 1,000-kWh battery pack is twice the size of many of its competitors.

“We keep the trucks for a million miles and seven years,” O’Connell said. “Operating costs over time will pay off.”

The Gatorade maker declined to share details about the trucks’ weight, another closely guarded secret by Tesla.

O’Connell said the company aims to roll out Semis in the central US next, and then the East Coast.

He said Tesla not only helped pay for the superchargers for the trucks, but provided design and engineering services for the facilities, which come with solar and battery storage systems.

O’Connell said a 425-mile (684 km) trip carrying Frito-Lay products gets the Semi’s battery down to about 20%, and it takes about 35 to 45 minutes to recharge it.

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Red Flags That Your Spouse Is Hiding Money (And What To Do About It)

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Marriage can be hard enough without one spouse hiding money from the other.

When financial infidelity occurs in the form of “hidden cash,” a marriage or a live-forever relationship can easily be ended.

The truth is About 30% of American couples suffer from financial infidelity. Other evidence shows that more than 75% of couples describe the hidden money situation as negative and common 10% of these scenarios end in divorce.



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US judge orders Norwegian Cruise Line to pay $110m for use of Cuba port By Reuters

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© Reuters. Norwegian American Airlines cruise ship Marina arrives in Havana Bay, Cuba on March 9, 2017. REUTERS/Alexander Meneghini/File/File Photo

Written by Brian Ellsworth

MIAMI (Reuters) – Norwegian Shipping Line (NYSE) has to pay $110 million in compensation for the use of a port confiscated by the Cuban government in 1960, a US judge said Friday, marking a significant milestone for Cuban Americans. Who are seeking reparations for the Cold War era. Assets confiscation.

The decision by US District Judge Beth Bloom in Miami follows her decision in March that use of the Havana Cruise Terminal constituted smuggling of forfeited property belonging to the plaintiff, Delaware-registered Havana Docks Corp.

The decision read: “The judgment is made in favor of Plaintiff Havana Docks Corporation and against Norwegian Cruise Line Holdings, Ltd.”

“The plaintiff was awarded $109,848,747.87 in damages,” it says, adding that the Norwegian must also pay an additional $3 million in legal fees and costs.

Norwegian Cruise Line did not immediately respond to a request for comment.

Cuban President Miguel Diaz-Canel has sharply criticized the Helms-Burton Act, calling it an extraterritorial violation of international law.

Havana Docks also sued Carnival Cruise Lines (NYSE: ), Royal Caribbean (NYSE:) and MSC under the Helms-Burton Act, which allows US citizens to sue over the use of property seized in Cuba after 1959.

The ruling could fuel more lawsuits by Cuban exiles pursuing claims, worth $2 billion, according to one estimate, over asset seizures under late Cuban leader Fidel Castro.

It may also serve as a reminder to multinational companies of the complexities that can come with doing business in Cuba.

In 2016, US cruise ships began traveling to Cuba for the first time in decades after a détente negotiated by former President Barack Obama eased some provisions of a Cold War US embargo.

But the Trump administration in 2019 ordered a halt to all such cruises amid efforts to pressure Cuba over its support for Venezuelan President Nicolas Maduro, Washington’s ideological foe.

The Trump administration has also allowed US citizens to sue third parties for using property seized by Cuban authorities, a provision of the Helms-Burton Act that every previous president has waived since the law was passed in 1996.

Havana Docs says Cuba, which has been under a US trade embargo for decades, has never compensated it for taking the drug.

The four cruise lines sued in 2019 in the US District Court for the Southern District of Florida. Bloom in March held the companies liable for damages under the Helms-Burton Act, also known as the Libertad Act.

According to the US-Cuban Economic and Trade Council, a nonprofit organization that provides information on relations between the two countries, 5,913 validated claims related to property seized in Cuba represent an estimated liability of nearly $2 billion.

Forty-four lawsuits have been filed under Title III of the Helms-Burton Act, the organization says.

“For the current plaintiffs of Cuban descent, (the decision) will give them a moment of relief,” said John Cavulich, the group’s president. “It will give them a moment to say ‘You can run but you can’t hide,'” Cavulich said.

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Is a Royal Caribbean or Carnival beverage package worth it?

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An all-inclusive beverage package that gives you access to beer, wine, liquor, bottled water, soda, specialty coffee, and even shakes/juices may cost more than your cruise fare.

This is especially true right now when many cruise cabins are being sold at discounted prices while the drinks package prices have gone up.

Deciding whether to purchase a drink package is a challenge because you have to estimate whether you will be drinking enough to cover the cost. Or, more importantly, whether you’d spend more if you decided not to purchase a drink package.



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