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  • btc = $65 341.00 - 336.51 (-0.51 %)

  • eth = $3 524.88 64.42 (1.86 %)

  • ton = $7.21 -0.31 (-4.06 %)

19 Oct, 2023
1 min time to read

The announcement coincided with Tesla's third quarter earnings report, which showed a 44% drop in profits from the previous year.

Despite the financial information, the report did not initially give a delivery date for the Cybertruck. However, it did confirm that pilot production of the electric pickup truck has begun at Tesla's Giga Texas plant near Austin. The report also confirmed the company's readiness to deliver the Cybertruck to customers this year.

Tesla had previously set summer 2023 and third-quarter 2023 deadlines for Cybertruck deliveries, both of which were missed.

The exact number of Cybertrucks to be handed over during the delivery event remains undisclosed, with mass production expected to ramp up in 2024. The Giga Texas factory's capacity is projected to produce fewer than 125,000 Cybertrucks once it reaches full-scale production, a milestone Musk believes will be achieved in 2025, not 2024.

Despite the delays and financial investments required for the Cybertruck, Musk expressed his conviction in the product, calling it "our best product ever."