SAN FRANCISCO, Oct 19 — Tesla CEO Elon Musk on Wednesday warned of difficulties in ramping up production of the automaker’s much-awaited Cybertruck electric pickup truck and...
The Cybertruck is expected to challenge Rivian’s R1T, Ford’s F-150 Lightning and General Motors’ Chevrolet Silverado EV in the hot market for electric pickup trucks. — AFP picSAN FRANCISCO, Oct 19 — Tesla CEO Elon Musk on Wednesday warned of difficulties in ramping up production of the automaker’s much-awaited Cybertruck electric pickup truck and announced that deliveries would begin on November 30.
The Cybertruck is expected to challenge Rivian’s R1T, Ford’s F-150 Lightning and General Motors’ Chevrolet Silverado EV in the hot market for electric pickup trucks. The company has said it had the capacity to make more than 125,000 Cybertrucks annually, with Musk adding there was the potential for that to lift to 250,000 in 2025.“I wouldn’t expect Tesla to be selling or producing anywhere ,” said Seth Goldstein, an equity strategist at Morningstar. “But I think that they’re giving us an indication of the capacity they’re going to make available for the Cybertruck as production ramps up.
The company, which built its first Cybertruck in July, had in 2019 expected to price the vehicle under US$40,000, but electric vehicle prices have since risen due to an increase in battery raw material prices.EV demand has been on a downturn over the last year as higher interest rates push up financing costs and discourage consumers from making discretionary purchases.