According to reports, people familiar with the matter revealed that Tesla plans to start production of the highly anticipated Cybertruck by the end of the first quarter of 2023. According to the original plan, the pickup will start production at the end of this year.
The delay comes as Tesla tweaks the features and features of the electric pickup to strengthen the product’s appeal in this growing segment, people familiar with the matter said. Tesla expects to produce the Cybertruck in small quantities in the first quarter of 2023 before expanding production, the people said. Tesla has yet to comment.
Tesla, the world’s largest electric-car maker, makes several electric sedans and SUVs but has been absent from the pickup market, a lucrative market and hugely popular in the United States.
Both Ford and Rivian Automotive already lead Tesla in the electric pickup market. Ford said earlier this month that it would double its annual production capacity to 150,000 before the F-150 Lightning electric pickup arrives at dealerships this spring.
Ford’s market value topped $100 billion for the first time on Thursday, while Tesla tumbled 6.7% on the day and Rivian tumbled 7.1%. Tesla CEO Elon Musk unveiled the futuristic electric pickup in 2019. They had previously pushed back the launch from late 2021 to late 2022.
Musk has said that he will update the product roadmap during an earnings call on January 26. Asked about Cybertruck, Musk tweeted in late November, “This year has been a supply chain nightmare, never-ending!”
Tesla recently removed reference production plans from Cybertruck’s ordering site. “As production approaches in 2022, you can complete the configuration,” the site said last month. But the “2022” has now been removed.
Tesla plans to build the Cybertruck at its Texas plant, which will also start making the Model Y earlier this year.