Tesla’s first Cybertruck rolled off the electrical vehicle maker’s assembly line in Austin, Texas, after production had been delayed for 2 years.
Tesla founder and CEO Elon Musk first announced the futuristic-looking electric pickup truck in 2019 at an event that went viral when the vehicle’s designer cracked the truck’s purportedly unbreakable “armor glass” windows during an indication.
Within the years because the Cybertruck’s unveiling, Tesla has delayed the timing of mass production on several occasions.
Last yr, Musk cited supply chain shortages affecting the sourcing of components when Cybertruck production was pushed back into 2023.
During a Tesla shareholder meeting in May, Musk said that the corporate is aiming to provide about 250,000 Cybertrucks a yr, depending on demand.
Tesla co-founder and CEO Elon Musk gestures while wrapping up his presentation of the newly unveiled all-electric battery-powered Tesla Cybertruck at Tesla Design Center in Hawthorne, Calif., on Nov. 21, 2019.AFP via Getty Images
When Musk first announced the Cybertruck in 2019, the corporate allowed would-be buyers to pay $100 to order a future Cybertruck, which then had a projected initial price of lower than $40,000.
The electrical pickup has also undergone some design changes because it was first announced.
Following years of delays, pricing details haven’t yet been announced, and the corporate stopped taking orders for the vehicle from outside of North America last May.
Tesla co-founder and CEO Elon Musk reacts in front of the newly unveiled all-electric battery-powered Tesla Cybertruck with broken glass on windows following an indication on Nov. 21, 2019.AFP via Getty Images
With Cybertruck’s launch, Tesla could have an EV offering within the pickup segment – one of the vital profitable within the US market – together with a direct competitor to the EV pickups launched by Ford and Rivian in small quantities.
Late last yr, Reuters reported that Tesla planned to start mass production of its Cybertruck at the top of 2023 following an “early production” phase that was set to start out in the midst of 2023.
The report cited two individuals with knowledge of the plans.
The Tesla Cybertruck is on display on the Tesla Giga Texas manufacturing facility through the “Cyber Rodeo” grand opening party on April 7, 2022 in Austin, Texas. AFP via Getty Images
Tesla’s plans for putting the Cybertruck into mass production could also be discussed when the corporate releases its second-quarter earnings results on Wednesday.
Earlier this month, Tesla announced that it delivered a record variety of vehicles within the second quarter as Elon Musk’s strategy of boosting the corporate’s sales volume by aggressively discounting prices to stimulate demand paid off.
Tesla announced 466,140 delivered vehicles within the second quarter – a rise of 10% from the prior quarter and up 83% from the identical period a yr ago.
Tesla’s stock price is up roughly 160% yr to this point as of Sunday, July 16, trading at greater than $281 per share after starting the yr at $108 per share.
