Tesla’s long-anticipated new electric truck—the Cybertruck—will likely be rolled out next year.
Key Details
- Tesla’s long-delayed Cybertruck may go into production late next year.
- “Tesla aims to start mass production of its Cybertruck at the end of 2023, two years after the initial target for the long-awaited pickup truck Chief Executive Elon Musk unveiled in 2019,” says Reuters.
- The highly anticipated Cybertruck has faced numerous challenges and delays that have kept it from going into production—namely sourcing for components—a major issue for mass electric-vehicle production.
- “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,” says Reuters.
Why it’s News
Tesla is ramping up production as the demand for electric vehicles (EVs) increases in the U.S. As we previously reported, President Joe Biden has set a goal to replace all gas-powered vehicles in production by 2035. Major automakers have already begun shifting production, building battery plants, and announcing new electric variants on existing trucks and muscle cars.
The hunt for rare-earth metals has slowed potential EV production, with some miners proposing deep-sea mining and battery recycling as necessary methods of acquiring the rare materials needed to make the green revolution happen.
Tesla is already ahead of the curve on that front, having hit a milestone in August by producing its three millionth car. The company is still the dominant producer of EVs.
Several of its major upcoming products though are facing multi-year delays. Musk announced its own line of semi-trucks five years ago and was unable to deliver them due to shortages of batteries and supply-chain delays. The first deliveries are expected as early as December.
Notable Quote
“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,” says Reuters.
