Tesla’s Cybertruck Will Cost More than Initially Proposed

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Author: Mike Ross

Tesla has always been ahead of its time in designing electric vehicles. Elon Musk, CEO of Tesla, gave some bad news for the much-anticipated Cybertruck during the company’s 2022 Annual Meeting of Stockholders.

According to Tesla CEO, Elon Musk, the Cybertruck will enter total production in mid-2023. However, it will be more expensive than the initially proposed price. 

Some bad news for Cybertruck Fans

Musk stated that the specifications and pricing of the Cybertruck “will change.” He noted inflation and other “other challenges” that have developed in the three years since the company initially presented the electric truck.

Musk announced that the Cybertruck would be in production by “mid-next year,” although that was also a moving target. The presentation was planned for the end of 2021. However, by August 2021, the business announced a postponement until 2022 and subsequently to “ideally” 2023. 

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Meanwhile, rivals like Ford and Rivian have introduced their electric trucks, with Ford planning to make 150,000 F-150 Lightnings by 2023.

Tesla Cybertruck Price

“Cybertruck pricing was announced in 2019. Musk remarked during the conference. ”I despise having to deliver some terrible news. But I don’t think there’s any way to predict the inflation we’ve seen and the numerous concerns,” Musk remarked.

Tesla’s Cybertruck, the object of enormous intrigue and scorn that may or may not go into production next year, is expected to start at a very reasonable $39,900 initially but may be higher due to inflation. The CEO claimed that a lot has happened since the first the price was announced. 

Technical Characteristic

Tesla revealed that the Cybertruck would be available in three variants:

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  • For $39,900, you get a single-engine, rear-wheel-drive vehicle with a 250-mile range, 7,500-pound towing capacity, and a 0-60 mph in less than 6.5 seconds.
  • For $49,900, you get a twin-engine all-wheel drive vehicle with a 300-mile range, a 10,000-pound towing capacity, and a 0-60 mph in less than 6.5 seconds.
  • For $69,900, you get a three-motor all-wheel drive vehicle with a 500-mile range, a 14,000-pound towing capacity, and a zero-to-60 mph in less than 6.5 seconds.

Is Tesla still willing to make these three versions?

Another interesting question that we, unfortunately, don’t know yet is how many pre-orders Tesla currently has. 

The most recent stated figure – 650,000 – was in June 2020, although it is claimed to have increased since then. 

According to a Cybertruck Reservations List compiled by the Cybertruck Forum, reservations totaled over one million as of May 2021. 

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People actively made pre-orders; in the last year, Tesla company has had approximately 1.5 million reservations.

However, Tesla has boosted pricing on its non-Vaporware range of electric vehicles — except for the Model 3 — removing the 200,000 vehicle sales ceiling that would cause the $7,500 tax credit to expire. 

Tesla was the first carmaker to sell 200,000 electric vehicles, initiating the phase-out in 2018.

Conclusion

Yes, the Tesla Cybertruck has become more costly, but this was expected. The real question today is how much the Cybertruck’s price will rise. Additional design components may imply that the Tesla truck’s ultimate cost will be significantly more than projected due to inflation. 

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