Tesla's Cybertruck Delayed Till 2024 The cyber truck was reported to go into production towards the end of 2023. This target was set in the second quarter last year. However, Musk has confirmed that the manufacturing would begin "sometime this summer," but the mass production will not start until next year
By Kavya Pillai
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Elon Musk's Tesla sent shock waves in 2019 with the radical design of their Cybertruck. It appears now that this truck will take time to be available in showrooms. During a fourth quarter earnings call Musk said the vehicle will not see full volume production till 2024.
The cyber truck was reported to go into production towards the end of 2023. This target was set in the second quarter last year. However, Musk has confirmed that the manufacturing would begin "sometime this summer," but the mass production will not start until next year.
Mostly the Cybertruck would be manufactured in the Tesla Gigafactory located in Austin, Texas.
The company has reportedly begun the installation of equipment that will be used for production like castings and general assembly body shops. This is not the first time Tesla has Cybertruck's production. The production plan was originally set for late 2021 but was delayed due to the Covid-19 pandemic. Apart from schedule changes Cubertruck's specs and price will be altered as well.
The new production date for Tesla's Cybertruck would be during a time when Elric trucks will have already reached the market. Electric Vehicles like the F-150 Lightning, Rivian R1T, and the RAM 1500 EV would be strong contenders for the Cybertruck. If Tesla had proceeded with the previous schedule Cybertruck would have dominated the market.
The fourth quarter of 2022 for Tesla estimated $24.3 billion in revenue with 37 per cent increase from the same quarter a year ago, earning the company $3.7 billion in net income. Tesla on the same said, "As we progress into 2023, we know that there are questions about the near-term impact of an uncertain macroeconomic environment, and in particular, with rising interest rates."
