Tesla's long-delayed electric semi-truck has finally reached high-volume production, a bullish sign for Tesla stock that most investors have overlooked.

• The Semi was unveiled nine years ago and only now has a real production line in Nevada, targeting 1,000 trucks a week.
• It costs far more upfront than a diesel truck, but with diesel prices sky-high it pays for itself in five years through lower fuel and maintenance costs.
• Federal EV tax credits for semis are gone, but California subsidies can cut the truck's cost below a diesel rig, making the payback nearly instant.
• At full ramp the Semi could add roughly 10% to Tesla's value on its own, a project the market has mostly forgotten while focusing on robotaxis and Optimus.
• The big risk: if the Ukraine and Iran wars end and oil prices crash, the fuel savings shrink and adoption slows.

Outlook: Watch for the production ramp in Nevada, Amazon and European orders, and a possible Democratic comeback that could bring back federal EV credits for trucks.