EV giant Tesla Inc (NASDAQ:TSLA) delayed its timeline for delivering the Cybertruck Foundation series.
What Happened: While the estimated delivery time for new orders of the Cyberbeast is now mid-late 2024, that for the All Wheel Drive (AWD) version is Jan-March 2024. The change was first flagged by Tesla investor and enthusiast Sawyer Merritt on X.
BREAKING: Tesla has pushed back new Cybertruck Foundation series estimated delivery dates.
— Sawyer Merritt (@SawyerMerritt) December 16, 2023
• Cyberbeast: Mid-late 2024 (from early 2024
• AWD: Jan-March 2024
This suggests Tesla might be making a LOT more than the estimated 1,000 Foudation Cybertruck some ppl thought. pic.twitter.com/rwmLFD46MX
Tesla commenced deliveries of its stainless steel Cybertruck last month by handing them over to a handful of customers at its Gigafactory in Texas on Nov. 30. It is available in three versions, namely the rear-wheel drive, the all-wheel drive and the premium Cyberbeast.
The 'Foundation' series Cybertruck, meanwhile, will be fully optioned and include limited-edition laser etched badging, all-terrain tires, full self-driving capability, and charging equipment with Powershare home backup hardware, among other features.
Why It Matters: Company CEO Elon Musk has previously flagged the difficulties of scaling production of the Cybertruck.
During Tesla's third-quarter earnings call, Musk indicated that the company envisions delivering approximately 250,000 Cybertrucks in a year in the future. However, he cautioned that this target might not be achieved next year.
"I think we'll probably reach it sometime in 2025. That's my best guess," Musk then said, citing difficulties in scaling production owing to the vehicle's new design.
The company dug its own grave with the Cybertruck, Musk said.
"Special products that come along once in a long while are just incredibly difficult to bring to market, to reach volume, to be prosperous. It's fundamental to the nature of the newness," he added.
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Photo courtesy: Tesla