Tesla intends to begin mass production of Cybertruck at the end of 2023, two years later than the original target for the eagerly anticipated pickup truck Chief Executive Elon Musk disclosed in 2019.
The new model will be built at Tesla’s Austin, Texas plant, with “early production” expected to begin in the middle of 2023, the company announced last month. In a conference call with financial analysts, Musk said, “We’re in the final lap with Cybertruck.”
The sharp-angled electric truck would require a gradual ramp in the second half of the next year to achieve maximum output, which would stall Tesla’s recording of revenue for a full quarter of production on a new model seen to be key to its growth until early 2024.
The estimated hundreds of thousands of prospective buyers who paid $100 to reserve a Cybertruck in one of the most eagerly anticipated and closely monitored electric vehicle launches in history would also have to wait another year.
The Cybertruck’s exact cost has not been announced, the production model has not been shown, and the battery management plan for the new model has not been made clear.
Tesla had anticipated an initial price of under $40,000 in 2019, but since then, new car costs have skyrocketed, and Tesla has increased pricing throughout its lineup.
A shortage in component sourcing was the rationale given by Musk in January for postponing the introduction of the Cybertruck until 2023.
Outside of North America, Tesla stopped taking orders for the Cybertruck in May. The company received “more orders for the first Cybertrucks than we could possibly fill for three years after the start of production,” Musk said.