Tesla’s Cybertruck production has been delayed once again, pushing the start of mass production to the end of 2023, according to sources familiar with the matter. This is a two-year delay from the initial target set by CEO Elon Musk when he unveiled the long-awaited pickup truck in 2019. The news comes after Tesla announced last month that it was preparing its factory in Austin, Texas, to begin early production of the Cybertruck in mid-2023.
The delayed production timeline means that Tesla will not record revenue until early 2024 for a full quarter of production on the highly anticipated electric truck. It also means that potential buyers who have reserved a Cybertruck will face an extended wait of another year. Many customers have already placed a $100 deposit to secure their spot in line for the vehicle.
Tesla has not provided final pricing details for the Cybertruck, nor has it showcased the production version of the vehicle. Additionally, it has not specified how it plans to manage the battery supply for the new model. The Cybertruck was initially designed to use Tesla’s 4680 batteries, but the company has reportedly faced challenges in scaling up production of these in-house batteries. It is speculated that Tesla may have to redesign the Cybertruck batteries to use conventional 2170 batteries instead.
The launch of the Cybertruck will position Tesla in the profitable electric pickup truck market and compete with models from Ford and Rivian. However, the delayed production timeline could have an impact on Tesla’s growth projections and its ability to meet the high demand for the vehicle.
While Tesla has not provided an official comment on the production delay, analysts have noted that the company often ramps up production slowly for new models. They also caution that a weakening global economy could affect Tesla’s sales, despite the strong demand it has experienced so far.
In conclusion, Tesla’s Cybertruck production has been delayed to the end of 2023, resulting in a two-year delay from the original target. Potential buyers will have to wait longer to receive their vehicles, and Tesla will not record revenue until early 2024 for a full quarter of production. Despite the delay, Tesla is positioned to enter the profitable electric pickup truck market and compete with other major automakers.
