Tesla intends to start production of its Cybertruck electric pickup truck only by the end of the first quarter of 2023, according to a trusted informant familiar with the matter. Production was previously expected to begin this year.
The source writes that the delay is due to Tesla tweaking the specs and features of the electric pickup to create the most attractive vehicle possible, as competition in this segment heats up. Tesla is expected to produce limited production of the Cybertruck in the first quarter of 2023 before ramping up production.
Tesla is the world’s largest electric vehicle maker, with nearly a million vehicles shipped last year alone, but the company has yet to enter the pickup market, which is lucrative and hugely popular in the US.
Ford and Rivian Automotive lead Tesla in electric pickup trucks. Ford said earlier this month that it would nearly double the annual production capacity of its F-150 Lightning electric pickup truck to 150,000 vehicles. Sales are due to start in the spring. Ford’s market value surpassed $ 100 billion for the first time on Thursday, when Tesla shares fell 6.7% and Rivian shares fell 7.1%.
Elon Musk said he will unveil an updated Tesla product roadmap on January 26. When asked about the timing of Cybertruck’s release, he replied: “Oh, this year has been such a nightmare for the supply chain, and it is not over yet!”
Tesla recently removed the 2022 reference from Cybertruck’s page. The new Tesla Model S was unveiled today, Tesla began accepting cryptocurrency, and Elon Musk was criticized for opening a showroom in China.