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Tesla's First Cybertruck Successfully Produced in Texas, Marking a Milestone in the Vehicle's Long-Awaited Launch
chandni
Over the weekend, Tesla announced that its highly anticipated Cybertruck has rolled off the production line in Texas, ahead of the company's second-quarter 2023 earnings call. The futuristic-looking pickup truck has faced numerous delays since its introduction by CEO Elon Musk in 2019, with production initially scheduled for 2021 but delayed due to component shortages.
In July 2022, Musk set a new production timeline for summer 2023, and during Tesla's first-quarter earnings call in 2023, he pledged to host a delivery event for the Cybertruck towards the end of Q3. Mass production is planned to begin by the end of this year, and Musk anticipates delivering between 250,000 to 500,000 units annually once production is in full swing.
During the upcoming Q2 earnings call, analysts will be eagerly awaiting further details on production, delivery schedules, and specifications for the Cybertruck. While Tesla has attributed the delays to standard supply chain issues, leaked documents have revealed additional design and engineering flaws. In early 2022, a whistleblower leaked files showing serious issues with braking, powertrain, suspension, sealing, and structural integrity in preproduction prototypes. These revelations reminded many of the memorable incident during the Cybertruck's initial reveal, when its supposedly indestructible armored glass windows were accidentally shattered.
As of November 2022, the Cybertruck had garnered over 1.5 million reservations, demonstrating significant customer interest. Since 2019, Tesla has allowed customers to place a $100 refundable deposit to pre-order the vehicle. The estimated starting price for the single motor and rear-wheel drive model was initially $39,900, but according to Kelley Blue Book, it is now expected to begin around $50,000. The dual-motor, all-wheel drive version is projected to start at approximately $60,000, offering a towing capacity of over 10,000 pounds and a range of over 300 miles. The top-tier version, starting at around $70,000, boasts three electric motors, all-wheel drive, a towing capacity of 14,000 pounds, and a battery range exceeding 500 miles.
Tesla typically adjusts prices during the course of a model year, so these figures may change before the end of 2023. Furthermore, Cybertruck buyers may qualify for the U.S. federal EV tax incentives, which provide a potential rebate of $7,500.
