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Tesla Cybertruck deliveries begin Thursday after long delays

The long-awaited first arrival tesla cybertruck is scheduled to begin Thursday, and the electric car maker plans to mark the occasion with an event at its Gigafactory in Austin, Texas.

The futuristic-looking Cybertruck will be Tesla’s first non-sedan electric vehicle and marks the company’s entry into the growing electric pickup market, joining rivals like Ford and Rivian.

Tesla completed its first production candidate, the Cybertruck, in July, nearly four years after its initial announcement and two years after it was originally scheduled to begin production. last year, Tesla CEO Elon Musk The company cited supply chain shortages that affect parts procurement as a factor in delaying Cybertruck production to 2023.

It remains unclear how much the Tesla Cybertruck will cost prospective buyers ahead of the launch event, as the EV maker has declined to provide public pricing. When the Cybertruck was first announced in 2019, the initial estimated price for the single-motor trim was around $40,000, with dual-engine and tri-engine trims expected to cost even more. Interested buyers of the Cyber ​​truck were initially able to make reservations by paying a refundable deposit of $100.

Elon Musk wants to “temper expectations” for the Tesla Cybertruck. We believe this is the best product in our history.

The first deliveries of the Tesla Cybertruck will officially begin on Thursday. (Nick Cooley/via Bloomberg/Getty Images)

How Tesla will price the Cybertruck will be particularly interesting given its trend over the past year of regularly discounting some sedans due to inflation and higher interest rates facing borrowers. EV space.

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TSLA Tesla Inc. 244.14 -2.58 -1.05%

Analysts at Wedbush Securities expect the Cybertruck to be priced around $50,000 for the single-motor model, with dual-motor and tri-motor models likely in the $60,000 to $80,000 range. Stated. For comparison, the starting price for the Ford F-150 Lightning currently starts at $52,000, while Rivian increased the price of its quad-motor R1T pickup last year from $67,500 to $79,500.

Tesla sets date for Cybertruck event: What you need to know

tesla cybertruck price

At the 2019 Cybertruck unveiling, Tesla CEO Elon Musk said the price would be around $40,000, but the company did not reveal the price ahead of Thursday’s launch. (Frederick J. Brown/via AFP/Getty Images)

Tesla has previously touted its stainless steel exterior as resistant to dents and corrosion, but Musk said the Cybertruck is bulletproof, something Tesla has shot in testing. It will also be equipped with the “armored glass” that famously broke during a failed demonstration of a prototype Cybertruck at a launch event in November 2019.

Musk says Tesla’s goal is to Make 200,000 pieces Annual number of Cybertrucks. He previously said the company has the capacity to produce more than 125,000 Cybertrucks a year, and that total could rise to 250,000 by 2025. It’s unclear how many Cybertrucks will be included in the first delivery or subsequent deliveries through early 2024.

Elon Musk unveils production Cybertruck in Texas

tesla cybertruck elon musk broken windows

Tesla CEO Elon Musk verbally responded to the failure of the Cybertruck’s armored glass demonstration at the company’s 2019 launch event. (Frederick J. Brown/via AFP/Getty Images)

driving a tesla financial statement In October, Musk said he wanted to “temper expectations” for the Cybertruck, even though he thought it was “the best product we’ve ever made.”

“I would like to emphasize that there are tremendous challenges to reach mass production of the Cybertruck and then to make the Cybertruck cash flow positive,” Musk said. “This is quite normal when you have a product with a lot of new technology or a new vehicle program, but especially with a product as different and advanced as the Cybertruck, the number of new And we have a problem, and we’re trying to solve it at scale.”

“It’s a great product, but financially it takes a year to 18 months before it contributes significantly to positive cash flow. I wish there was a way to do it differently. “That’s our best guess,” he explained. “The demand is off the charts, over a million people have reserved the car. So it’s not a question of demand, but we have to make it happen. , we need to make it at a price that people can afford. That’s insanely difficult.” ”

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The public will be able to live stream Tesla’s Cybertruck reveal happenings in texas Held on Musk’s X Platform (formerly Twitter), the event is scheduled for 2pm Central Time. The company’s shareholders of record were given the opportunity to enter a lottery for the opportunity to attend the event in person, but that window closed last week.

FOX Business’ Joe Toppe contributed to this report.

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