Saturday, August 20, 2022

Tesla’s Cybertruck Will Be More Expensive Than Originally Planned

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Tesla’s Cybertruck, that object of intense fascination and ridicule that may or may not go into production next year, is set to start at the extremely attractive price of $39,900. But that was in 2019 when the Cybertruck was first announced, and as Tesla CEO Elon Musk recently put it, “a lot has changed since then.”

At his company’s annual shareholder meeting, Musk said the Cybertruck’s specs and price “will be different,” citing inflation and other “various issues” that have cropped up in the three years since the electric truck’s first unveiling.

“I hate to give a little bit of bad news,” he added, before hyped the Cybertruck as “a great product” and a “damn fine machine”.

Musk said the Cybertruck would be in volume production by “mid-next year” — but that’s also been a shifting target, of course. Production was originally set to begin in late 2021. But by August 2021, the company announced a postponement until 2022 – and then later until “hopefully” 2023. Meanwhile, competitors like Ford and Rivian have launched their own electric pickups, with Ford saying it plans to sell 150,000 FK by 2023. -150 Lightnings to make.

  • Musk did not disclose any details, except that the original price would not be the same. In 2019, Tesla said it would make three versions of the Cybertruck:
  • Single-engine rear-wheel drive with 250-mile range, 7,500-pound towing capacity, and zero-to-60 mph capability in under 6.5 seconds for $39,900
  • Four-wheel drive, dual-motor, 500-mile range, 10,000-pound towing capacity, and 0-100 km/h in under 4.5 seconds for $49,900
  • Four-wheel drive triple motor with 500-mile range, 14,000-pound towing capacity, and zero to 60 mph in under 2.9 seconds for $69,900.

Is Tesla still planning to make those three versions? Who knows? Will it actually go into production in mid-2023? “Answer blurry, try again.”

Another unanswered question is the number of reservations Tesla currently has on file. The last reported number – 650,000 – was from June 2020, but it’s believed to have grown since then. A crowdsourced Cybertruck reservation overview by the Cybertruck forum with over 28,000 entries reservations for more than 1 million back in May 2021, according to Electrek. The number has continued to grow over the past year and is now estimated at nearly 1.5 million reservations.

Meanwhile, Tesla recently raised prices (again) for its non-vaporware line of EVs — except Model 3. And the company got some good news when it was revealed that the new climate deal passed by Senate Democrats would push the limit of 200,000 sold. eliminate vehicles to effect a phasing out of the $7,500 tax credit. Tesla was the first automaker to sell 200,000 EVs, leading to its phase-out in 2018.

But the legislation would limit eligibility for the credits to EVs no higher than $55,000 for new cars and $80,000 for pickups and SUVs — meaning Tesla will have to price the Cybertruck accordingly to qualify.

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