July 17, 2023

Tesla rolls out 1st production electric Cybertruck in Texas


After two years of delays, automaker Tesla announced over the weekend the production of its first Cybertruck electric pickup at its factory in Austin, Texas. 

Tesla (NASDAQ: TSLA) tweeted on Saturday a photo of a Cybertruck with the message: “First Cybertruck built at Giga Texas!”

Whether the achievement marks the kickoff of large-scale production of the vehicle is not clear. During a recent shareholder meeting, Tesla CEO Elon Musk said that the company would like to produce up to 250,000 Cybertrucks annually but that production would start slowly.

“It takes time to get the manufacturing line going,” Musk said, according to the Associated Press. “This is really a very radical product. It’s not made in the way that other cars are made. So let’s see.”

Musk unveiled the Cybertruck in November 2019 and said production would start in late 2021.

At the time, Tesla said the electric pickup would start at $39,900 for an entry-level version, with the top-range version at $70,000. 

The Cybertruck electric pickup features a cold-rolled stainless-steel frame, 6.5-foot bed and armored glass, with a towing capability of more than 14,000 pounds, according to Tesla’s website. The EV also features 500 miles of range with an acceleration capacity of zero to 60 miles per hour in 2.9 seconds.

Tesla pushed back production of the vehicle several times, citing shortages in parts and components, along with issues developing the necessary battery capacity to power the vehicle.

The Cybertruck will allow Tesla to compete in the electric pickup market, which includes Rivian’s R1T, the Ford F-150 Lightning and the GMC Hummer EV.

Tesla is scheduled to report second-quarter financial results on Wednesday, when it is anticipated Musk will release more details about the Cybertruck’s production.

Tesla tweeted a photo on Saturday showing workers surrounding the Cybertruck at the company’s Giga Texas factory in Austin. 

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