Tesla is to start mass production of its Cybertruck at its Austin, Texas plant starting at the end of 2023. However, the early production of the new model is expected to start by mid of 2023. In a conference call with financial analysts, Musk said, “We’re in the final lap for Cybertruck.”
Furthermore, a gradual ramp in the second half of next year to full output for the sharp-angled electric truck would mean that Tesla would not be recording revenue until early 2024 for a full quarter of production on a new model expected as key to its growth. It would also mean a wait of another year for the estimated hundreds of thousands of potential buyers who have paid $100 to reserve a Cybertruck in one of the most highly anticipated and closely tracked electric vehicle launches ever.
However, it has not announced the final pricing of the Cybertruck, shown the production version of the vehicle, or specified how it will manage the battery supply for the new model. In 2019, Tesla had projected an initial price of under $40,000, but prices for new vehicles have shot higher since then and Tesla has raised prices across its lineup.
Production
Another source said Cybertruck was designed to use Tesla’s much-touted 4680 batteries. But Guidehouse Insights analyst Sam Abuelsamid said Tesla has not been able to significantly scale up production of the in-house batteries, which could lead to further delays of Cybertrucks beyond the end of 2023. Tesla may have to significantly redesign the Cybertruck batteries to switch to conventional 2170 batteries, he added. Musk said last month the 4680 batteries are not expected to be “any limiting factor for Cybertruck or anything else.” He said the battery output was growing exponentially, without giving details about the production volume.
Musk introduced Cybertruck in 2019 reveal where the vehicle’s designer cracked the vehicle’s supposedly unbreakable “armor glass” windows. The company has pushed back production timing three times since: from late 2021 to late 2022, then to early 2023, and most recently to the mid-2023 target for initial production. The Cybertruck launch will give Tesla an EV entrant in one of the most profitable segments of the U.S. market and a competitor to electric pickups from the likes of Ford Motor Co and Rivian Automotive, both of which have launched models in still-limited numbers. In January, Musk cited shortages in sourcing components as the reason for pushing the launch of Cybertruck into 2023. In May, Tesla stopped taking orders for the Cybertruck outside North America. Musk said then the company had “more orders of the first Cybertrucks than we could possibly fulfill for three years after the start of production.”
