Technology
The highly anticipated Cybertruck deliveries are scheduled to commence on November 30th
2023-10-19 10:25:55
After much anticipation, Tesla has officially set a date for the first deliveries of its highly awaited Cybertruck. CEO Elon Musk took to social media to announce that the Cybertruck delivery event is slated for November 30, and it will take place at the company’s Austin gigafactory.
Interestingly, this announcement coincided with Tesla's release of its third-quarter earnings report, which revealed a 44% drop in profits compared to the same period last year.
Notably, the Cybertruck's delivery date was not included in the earnings report, but it did mention that pilot production of the Cybertruck has commenced at Giga Texas, Tesla's factory near Austin, Texas. The report also affirmed that the Cybertruck is "on track for initial deliveries this year."
Originally, Tesla had pledged to deliver the Cybertruck to customers in the summer of 2023, and later, in the third quarter. However, both of these deadlines came and went without fulfillment.
The exact number of Cybertrucks to be delivered during the event remains undisclosed. Production of the vehicle is anticipated to ramp up in 2024. According to the Q3 earnings report, the gigafactory's capacity for Cybertruck production will be less than 125,000 units once it reaches mass production. Musk mentioned that Tesla aims to achieve this production volume in 2025, not in 2024.
Tesla's balance sheet indicates substantial investment in Cybertruck production. The company's operating expenses saw a year-over-year increase of 43% to $2.4 billion, partly attributed to the Cybertruck project.
During the earnings call, Musk emphasized the significant challenges in achieving volume production with the Cybertruck, estimating that it will take roughly 18 months until the project turns cashflow positive.
As the Cybertruck's delivery event approaches, the electric vehicle community eagerly awaits this landmark moment in Tesla's history, hoping it will mark a new era in sustainable transportation.
