Technology
Friday, December 1st, 2023 4:50 pm EDT
Key Points
- Elon Musk Unveils Tesla’s Cybertruck: CEO Elon Musk revealed details about Tesla’s Cybertruck at an event in Austin, Texas. Describing it as a “better truck than a truck” and a “better sports car than a sports car,” Musk highlighted its unique features, including a hard steel body claimed to be bulletproof and rock-proof windows. The Cybertruck is touted to tow over 11,000 pounds, accelerate from 0 to 60 mph in 2.6 seconds, and features a durable composite bed.
- Pricing and Production Challenges: Despite initial claims that the Cybertruck’s base model would be priced around $40,000, Tesla’s website now lists it at $60,990, a 50% increase. Elon Musk did not directly mention pricing during the event. Musk acknowledged challenges in reaching volume production and making the Cybertruck cashflow positive during an October earnings call. The cautious tone contrasted with his earlier boast that the Cybertruck launch would be the biggest of the year.
- Tesla’s Cybertruck Models and Competition: Tesla’s Cybertruck lineup includes a base model rear-wheel drive version priced at $60,990, a “Cyberbeast” version at $99,990, and an all-wheel drive version at $79,900 planned for 2025. The base model is expected to have a 250-mile range, accelerate from 0 to 60 mph in 6.5 seconds, while the all-wheel drive version targets a 340-mile range and 0 to 60 mph in 4.1 seconds. Tesla faces competition in the electric pickup market from companies like Ford, General Motors, and Rivian, although the U.S. electric pickup market’s growth has been slower than anticipated.
Tesla CEO Elon Musk unveiled details about the company’s Cybertruck pickup at an event in Austin, Texas, emphasizing its unique features. Musk claimed the Cybertruck’s hard steel body was bulletproof, and its windows were “rock-proof.” The truck boasts a towing capacity of over 11,000 pounds, acceleration from 0 to 60 mph in 2.6 seconds, and a durable composite bed. Musk presented several “production Cybertrucks” to customers during the event.
Despite Musk’s initial claim that the Cybertruck would be priced around $40,000, Tesla’s website now lists the base model rear-wheel drive version at $60,990, representing a 50% increase. The “Cyberbeast” version is priced at $99,990, with deliveries for both starting next year. An all-wheel-drive version is planned for 2025, priced at $79,900. The base model is expected to have a 250-mile range battery and 0-60 mph acceleration in 6.5 seconds.
In October, Musk acknowledged significant challenges in achieving volume production and making the Cybertruck cashflow positive. The company’s website now provides pricing and range details for the various Cybertruck versions, ranging from $60,990 to $99,990.
Competitors like Ford, General Motors, and Rivian have entered the electric pickup market, but the U.S. electric pickup market’s growth has been slower than expected. Rivian recently introduced a leasing option for its R1T electric pickup. Tesla had initially revealed the Cybertruck in 2019, and while production started in July 2023, it has faced delays and challenges.
Tesla’s shares closed 2% lower after the Cybertruck event, remaining flat after hours. Elon Musk had previously characterized the Cybertruck as a groundbreaking product launch, but challenges in production and pricing have raised questions about its market impact.
For the full original article on CNBC, please click here: https://www.cnbc.com/2023/11/30/tesla-set-to-reveal-cybertruck-details-at-austin-deliveries-event.html
