It looks like Tesla is almost ready to start building the long-delayed Cybertruck.
The EV maker announced that it remains on pace to begin production of its eagerly anticipated battery-powered pickup this summer, according to the Verge. The company is so confident of its latest timeline that CEO Elon Musks said it will hold a special delivery event at the end of the third quarter.
The announcement was made during Tesla’s first quarter earnings call with investors on Wednesday. Musk called the Cybertruck, which was first announced in 2019, a “very radical project” and explained that it has taken so long for production to get up and running because the EV is not “made in the way other cars are made.” One of the main reasons for this might be due to the automaker’s insistence on constructing the pickup’s body from stainless steel. Not only is the material more expensive than the steel normally used in vehicle production, but it’s also harder to work with and requires special welding techniques.
“One thing I am confident of saying is that it’s an incredible product,” Musk reportedly said of the Cybetruck on the call. “It’s a Hall of Famer.”
It’s unclear what will happen during the Cybertruck delivery event. Based on a similar event held for the Model Y, it’s possible that a small number of examples of the EV will be delivered to Tesla insiders, reports Electrek. Musk also said further details about the vehicle, including its range and features, will be available at the event, which suggests that it could also double as a public debut for the finished pickup. Tesla did not respond to Robb Report‘s request for comment.
Regardless of what happens at the delivery event, don’t expect to see the Cybertruck on public roads anytime soon. Earlier this year, Musk said that mass production of the vehicle would not commence until 2024 and, as of right now, that remains the case.
We imagine Tesla wouldn’t mind having a new model to sell sooner than later, though. During Wednesday’s earnings call, the brand announced a net income of US$2.51 billion (HK$19.67 billion) during the first quarter of 2023, down 24 percent from the same period last year, thanks in no small part to continued price cuts, according to CNBC. Unsurprisingly, the company’s stock price has fallen nearly 10 percent in the day since the call. It’s hard to imagine there being Cybertruck price cuts anytime close to its launch.