Four years after its debut, the Tesla Cybertruck finally reached its first group of customers. The truck was handed out to about a dozen people during a lavish event at the company’s headquarters in Austin, Texas, where Elon Musk predicted the truck would usher in a new, more exciting future.
The company also provided updated details on the truck’s pricing, range and features, many of which have changed significantly from the originally announced figures. The rear-drive version of the electric truck will start at $60,990 (up from the original price of $39,900 in 2019) and will get 250 miles of range on a full charge. That version will not be available until 2025.
Coming soon (2024, Tesla’s order page optimistically says) will be the two-motor and three-motor “Cyberbeast” versions. The AWD Cybertruck will start at $79,990, travel 340 miles, reach 0-60 mph in 4.1 seconds, and have a top speed of 112 mph. And the three-motor version will set you back $99,990, produce a ridiculous 845 horsepower with 10,296 lb-ft of torque, and get you around 320 miles of range.
The angular, stainless steel electric truck has long fascinated Tesla fans, but its numerous delays have led some to wonder if the truck would ever arrive. Production has reportedly been extremely challenging for the company, primarily due to the choice to use ultra-hard stainless steel for the exterior. Musk insisted that the truck be bulletproof, which further complicated the process.
The polarizing design has been another sore point. The polygonal shape and sharp angles were meant to indicate that Tesla couldn’t be less interested in competing in the traditional truck market. That has led some experts to conclude that the Cybertruck is likely to be more of a halo vehicle for the company, enticing customers to buy its more practical (and available) vehicles, like the Model 3 and Y.
The angular stainless steel electric truck has long fascinated Tesla fans
Indeed, in the lead-up to the event, Musk sought to “temper expectations” around the Cybertruck, warning investors that it would not begin generating “positive cash flow” for the company for at least a year to 18. months. Tesla has said it hopes to start producing 250,000 trucks a year by 2025, but the production ramp would be extraordinarily difficult.
On an earnings call in October, Musk said “demand was off the charts,” noting that more than 1 million people have paid $100 in a refundable deposit to reserve the Cybertruck. But he also admitted that the company may have covered more than it could handle. “We dug our own grave with the Cybertruck,” he said. “You know, no one – in general, probably no one digs a grave better than themselves.”
Now that it’s available, much of the attention will be redirected to Tesla’s production and how quickly the company can get these vehicles into the hands of customers. As a new entry into the highly competitive truck market, attention will also be paid to how well it competes with other electric trucks, such as the Ford F-150 Lightning and Rivian R1T.
But those questions may be moot because Tesla simply isn’t expected to make many, at least not at first. The polarizing design is likely to turn a wide swath of truck customers away. And its arrival amid a cooling market for electric vehicles means there are far fewer early adopters and tech-obsessives in the market for a giant polygon on wheels, despite the cool factor.
From a sales perspective, the Cybertruck could end up being a big hit. But it still won’t come close to matching the volume of trucks typically sold by Ford, Chevy and others. That Musk would jump first into the highly lucrative and intensely competitive truck market with a divisive design and difficult production process seems like an odd choice, even for a guy who’s become somewhat famous for his odd choices.
Much of the industry has shifted toward larger vehicles in recent decades, with trucks in particular making up some of the best-selling models. Companies make a lot of them, sell a lot of them, and then collect the profits. Tesla does not seem prepared to reap the same benefits from the Cybertruck.
