DELIVERY EVENT: Enthusiastic Tesla fanboys (and girls) are eagerly awaiting details about the rollout of the groundbreaking Cybertruck, the all-electric, futuristic, wedge-shaped offroader. They're particularly interested in learning about the delivery dates and the production quantity. Millions have reportedly pre-ordered the vehicle.
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LAUNCH IN SEPTEMBER: Its launch, slated next month (September) is one of this year's most-awaited moments in the auto industry. Tesla's latest official comment on the timeline is a planned delivery event “around the end of Q3,” which would mean around the end of September 2023. On Thursday (August 24, 2023) invites for the ‘Cybertruck Delivery Event” in Austin, Texas were sent out. “Invites are first-come-first served” and are valid for you and a friend,” a copy of the invite stated.
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‘PRODUCTION CANDIDATE’: On Thursday, August 24, 2023, Tesla CEO Elon Musk shared a photo of himself driving the vehicle, and stating on X (formerly Twitter): “Just drove the production candidate Cybertruck at Tesla Giga Texas!”, which clocked in 29.7 million views.
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WHAT IS A PRODUCTION CANDIDATE VEHICLE? A production candidate vehicle is what EV makers also call a ‘release candidate' and traditional automakers typically refer to as a ‘production validation’ vehicle, according to InsideEVs. When it rolls off the assembly line, there will be tens of thousands of reservation holders (who placed a $100 deposit) eagerly anticipating the release of the Cybertruck.
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START OF PRODUCTION: When Musk first showed a prototype of the Cybertruck, the plan was for production to start two years later. Last month (July 2023), Bloomberg reported that production has started — though two years behind schedule — and Musk has tempered expectations for how quickly Tesla will ramp up production. Tesla is apparently aiming for the production of 375,000 units per year for the Cybertruck. The EV maker announced in January that the Cybertruck would go into production at the plant in Texas in the course of 2023.
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ATTENTION-GRABBER: The Cybertruck has captured widespread attention for several reasons. The Cybertruck's unique, angular, and stainless steel exoskeleton design sets it apart from traditional trucks. Its distinctive appearance has attracted both Tesla enthusiasts and those intrigued by its futuristic aesthetics. It sports a blend of innovation, performance, and eco-friendly credentials.
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ELECTRIC PERFORMANCE: As an all-electric vehicle, the Cybertruck promises impressive performance with quick acceleration, high torque, “crabbing” functionality (for quicker turns) and potentially long electric range, aligning with Tesla's reputation for producing high-performance electric cars.
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OFF-ROAD CAPABILITY: Tesla claims the Cybertruck will possess exceptional off-road capabilities, appealing to adventure enthusiasts and those seeking a rugged utility vehicle. The stainless steel body is said to be highly durable and resistant to dents and damage, providing a tough and practical option for truck owners.
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ADVANCED TECH, ECO-FRIENDLY: Like other Tesla vehicles, the Cybertruck is expected to feature cutting-edge technology, including Tesla's Autopilot and Full Self-Driving (FSD) capabilities, attracting tech-savvy consumers. As an electric truck, the Cybertruck aligns with the growing demand for more environmentally friendly transportation options, contributing to the reduction of greenhouse gas emissions.
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CYBER-CULTURE AND DISRUPTION: Tesla and its CEO have a history of generating significant media coverage, driving cultural trends as well as causing industry disruptions — including space and rocket industries. Before Tesla, no other car-maker has taken electric vehicles seriously. Now, those who ignore the trend could face their “Kodak” moment, a drive towards possible extinction. While the anticipation around the Cybertruck has been fuelled in part by the charismatic figure of Musk, the company's reputation for innovation has been a major cause of concern for traditional automakers.
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SPECS, STAINLESS STEEL BODY: In April 2023, when asked about updated specs and pricing, Musk declined to give details, adding he would save that information for a Cybertruck handover event he hoped to stage around the end of the third quarter. He’s said the body will be stainless steel, which can be expensive and difficult to shape and weld. “It’s going to be hard to make the cost affordable because it is a new car, new manufacturing method,” Musk said then. “In the grand scheme of things, relative to the production rate of all the other cars we make, it will be small. But it’s still very cool.”
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DESIGN CHALLENGES: Musk told shareholders at the company’s annual meeting the Cybertruck’s radical design poses challenges. He’s said the body will be stainless steel, which can be expensive and difficult to shape and weld. Musk has tempered expectations for how quickly Tesla will ramp up production, telling shareholders at the company’s annual meeting in May that the Cybertruck’s radical design poses challenges.
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PRICE: During the November 2019 launch, Tesla stated will make three variants of the Cybertruck available — with the entry-level, rear-wheel-drive model carrying a base price of $39,000. In October 2021, the company scrubbed pricing and specifications from its Cybertruck order page. No explanation was given. On July 28, 2023, the Kelley Blue Book said they expect the Cybertruck to start at around $50,000.
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WHAT MUSK SAID ABOUT PRICING: Musk refused to provide the pricing when requested for it in April 2023, claiming Tesla would reserve the information for a Cybertruck handover event that he wanted to have near the end of the third quarter. “It’s going to be hard to make the cost affordable because it is a new car, new manufacturing method,” Musk said. “In the grand scheme of things, relative to the production rate of all the other cars we make, it will be small. But it’s still very cool.”
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DEMO: The wedge-shaped truck was first announced in November 2019. Since Tesla unveiled the vehicle at the event marred by the botched demonstration of supposedly bulletproof glass, Ford Motor Co. introduced an electric version of its best-selling F-150, General Motors Co. began selling its GMC Hummer EV pickup, and Rivian Automotive launched its R1T truck.
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DELIVERIES IN 2023: Deutsche Bank analyst Emmanuel Rosner expects Tesla to deliver 2,000 Cybertrucks this year, a fraction of the 1.78 million vehicles he’s projecting in total. In a June 26, 2023 report, he questioned whether the product will boost the company’s profitability, citing the difficulty of optimising production and need for larger battery packs to enable towing.
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PRE-ORDERS: Tesla's pre-order system, where customers can place a refundable deposit to reserve a Cybertruck, has generated significant interest and excitement, reportedly resulting in millions of reservations. The exact figure is unknown. Musk previously said it got 250,000 reservations within a week of unveiling the truck. Electrek reported on June 8, 2023 that there are “about 1.5 million reservation holders”.
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