Tesla's Cybertruck hits the road, starting at $61,000

Elon Musk presented the long-awaited Cybertruck at a delivery event in Austin, where the base model's cost was revealed to be $61,000—$21,000 more than the initial promise made four years ago.

The event marked the first deliveries to reservation holders, with Musk personally overseeing the proceedings. Tesla outlined additional models, including an estimated $80,000 all-wheel-drive version and a premium "Cyberbeast" expected to cost around $100,000, both scheduled for release next year.

The base Cybertruck offers a range of 250 miles per charge, while the premium Cyberbeast boasts an extended range of 320 miles. Musk emphasized the vehicle's power during the event, showcasing its acceleration and towing capabilities.

The base model can accelerate from 0 to 60 mph in 6.5 seconds, while the premium model can achieve 0 to 60 mph in an impressive 2.6 seconds, with a towing capacity of 11,000 pounds.

The event highlighted the Cybertruck's power, with the premium model outpacing a Porsche 911 while towing another Porsche 911, emphasizing the electric truck's performance capabilities on the road.

Tesla also increased the reservation fee to $250 for prospective buyers.

Despite the higher-than-expected pricing, the Cybertruck's launch represents a significant step for Tesla.