By the end of 2023, Tesla’s Cybertruck will be mass produced
Tesla may have to significantly redesign Cybertruck batteries to switch to conventional 2170 batteries.
Tesla aims to begin mass production of its e-truck by the end of 2023, two years after CEO Elon Musk’s initial target for the long-awaited truck was revealed in 2019, two people familiar with the plans told Reuters.
Tesla said last month it was preparing its plant in Austin, Texas, to build the new model with “early production” set to begin in mid-2023. “We’re in the last cycle of the Cybertruck,” Musk said. conspiracy. Contact financial analysts.
The gradual rise in the second half of next year to full production of the electric sharp-angle truck means that Company won’t report revenue until early 2024 for a full quarter of production on a new model that is expected to be the key to its growth.
It could also mean waiting another year for hundreds of thousands of potential $100 buyers to keep an e-truck in one of the most anticipated and closely watched electric vehicle launches.
Tesla did not immediately respond to a request for comment. Company shares are up 0.4% after rising 4.3% on Tuesday.
It has not announced the final price of the Cybertruck, has not shown a production version of the vehicle and has not specified how it will manage the battery supply for the new model.
In 2019, Tesla expected a starting price of less than $40,000, but prices for new cars have since risen, and Tesla has raised prices across its entire lineup.
Another source said the Cybertruck was designed to use the popular Tesla 4680 batteries. But Guidehouse Insights analyst Sam Abuelsamid said Tesla has not been able to significantly increase production of internal batteries, which could further delay Cybertrucks beyond the end of 2023.
He added that Tesla may have to significantly redesign its Cybertruck batteries to switch to conventional 2170 batteries.
Tesla’s Cybertruck is displayed at a meatpacking district in Manhattan in New York City, US, on May 8, 2021. REUTERS/Jeenah Moon
Musk said last month that 4,680 batteries are not expected to be a “limiting factor for the Cybertruck or anything else.” He said battery production is growing exponentially, without giving details on the scale of production.
Musk presented the Cybertruck at the 2019 reveal where the car designer shattered the supposedly unbreakable glass of the car. The company has postponed production time three times from late 2021 to late 2022, then to early 2023, and most recently to a mid-2023 target for initial production.
The launch of the Cybertruck would give Tesla an entry for electric vehicles in one of the most profitable segments of the US market and a competitor to electric pickup trucks from Ford Motor Co. and Rivian Automotive, which have released models in limited numbers.
In January, Musk cited a lack of resources as a reason to push the launch of Cybertruck into 2023.
In May, Tesla stopped taking orders for the e-truck outside of North America. Musk said at the time that the company had “more orders for the first electronic truck than we could meet in the three years since production began.”
Automakers often slowly increase production for an entirely new model like the Cybertruck.
Analysts also warned that a weak global economy would begin to affect sales at Tesla, which has so far been able to sell all the cars it makes. Musk said he expects the looming recession to continue “probably until the spring of 2024.”
IDRA Group, the Italian company that makes the Giga Press that will be used to mold parts for Cybertruck, said in a LinkedIn post last week that the 9,000-ton machine for producing truck parts was packed and ready. shipped.
The post did not name Tesla. Tesla uses the Giga Press to reduce the cost and complexity of production of its Model Y, an innovation that other automakers, including Toyota, have studied.
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