Elon Musk ‘is fearful Tesla is digging its own grave with troubled Cybertruck’ – as analyst says it would be cheaper to CANCEL production of the stainless steel vehicle

The first Cybertrucks will be officially launched next week, years after the unconventionally shaped vehicle was unveiled in 2019 and initially scheduled for delivery in 2021.

Tesla CEO Musk blamed the production delays on the price of batteries and the decision to clad the futuristic-looking truck in a stainless steel alloy.

‘We dug our own grave with the Cybertruck. It’s one of those special products that you only come across every now and then,” he said during an earnings call earlier this year.

“And special products that come along every now and then are just incredibly difficult to bring to market to achieve volume, to be prosperous.”

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Tesla CEO Elon Musk said the company dug its own grave with the Cybertruck

During the call, Musk said it will take 12 to 18 months of “blood, sweat and tears” to reach the required production volume.

Jefferies analyst Phillipe Houchois suggested the electric vehicle company should halt production of the truck as it would be better for Tesla’s reported stock. Investing.com.

“With 2024 already a lost year for growth, it would help Tesla refocus on an edge built on simplicity, scale and speed.”

Other industry experts said part of the Cybertruck problem is that it was designed for a market that doesn’t exist.

Eric Noble, president of The CarLab, an automotive products and design consultancy, told us Bloomberg: ‘The problems that emerge very clearly with the Cybertruck are problems with the concept itself.’

He has said the company aims to produce a quarter of a million trucks a year by 2025, but said the vehicle’s unique design means the company faces challenges in scaling up production.

Cybertruck has an estimated battery range of up to 800 kilometers and will be able to accelerate from 0 to 100 km/h in 2.9 seconds.

Musk has blamed battery supply issues for the vehicle’s repeated delays, saying each Cybertruck would have cost $1 million if it had hit the market in 2021.

The new vehicle has had more than 1.5 million pre-orders, according to TCD, with analysts predicting it could change the automotive market.

Cybertruck Specifications

Three versions are available:

Rear-wheel drive with one motor

  • 250 miles range
  • Towing capacity of 7,500 pounds
  • 0-100 km/h in less than 6.5 seconds
  • Costs $39,900

  • Costs $69,900

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