Tesla Is Developing These Self-Driving, Long-Haul Trucks That Billionaire Warren Buffett Will Fear – TheStreet.com

Tesla Inc. (TSLA) is developing a long-haul, electric semi-truck with autonomous driving capabilities that move in “platoons” and¬†automatically follow the direction of a lead vehicle, Reuters reports.

The electric carmaker is said to be nearing the completion of a prototype of the trucks, according to an email obtained by Reuters between Tesla and the Nevada Department of Motor Vehicles.

Furthermore, officials from California will meet on Wednesday to “talk about Tesla’s efforts with autonomous trucks,” state DMV spokeswoman Jessica Gonzalez told Reuters.

Shares of Tesla were higher in after-hours trading on Wednesday.

One person that probably isn’t feeling this news is billionaire Warren Buffett.

“Autonomous vehicles would hurt us if they spread to trucks,” Buffett told shareholders at Berkshire Hathaway’s (BRK.A) annual meeting in May. If self-driving trucks become predominant on the roads, it could steal business from Berkshire owned railroad Burlington Northern, Buffett hinted.

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Tesla Is Developing These Self-Driving, Long-Haul Trucks That Billionaire Warren Buffett Will Fear – TheStreet.com