Tesla’s CybertruckCould Be Available as Soon as 2023

According to an exclusive report published today, which relied on two people with knowledge of the situation, Tesla (NASDAQ: TSLA) intends to mass-produce its Cybertruck around the end of 2023.

The company stated last month it would build the new model at Tesla’s Austin, Texas, facility. Early production should begin in the middle of 2023. In a conference call with financial analysts, CEO Elon Musk stated they are in the final lap with Cybertruck. The electric vehicle manufacturer has not yet disclosed the Cybertruck’s ultimate price. Tesla had anticipated an initial price of under $40,000 in 2019, but since then, new car costs have skyrocketed, and Tesla has increased pricing throughout its portfolio.

Additionally, Tesla has not demonstrated a production model of the car or provided information on how it would handle the battery supply for the new model.

How Will Tesla Meet the Demand?

A scarcity in component sourcing was the rationale Musk gave in January for delaying the introduction of the Cybertruck until 2023. Outside of North America, Tesla ceased collecting orders for the Cybertruck in May. Musk claimed at the time that the firm received more orders for the first Cybertrucks than we could reasonably fill for three years after the start of manufacturing.

With the release of the Cybertruck, Ford (NYSE: F) and Rivian Automotive (NASDAQ: RIVN), both of which have introduced vehicles in still-restricted quantities, will have competition from Tesla in one of the most lucrative U.S. market categories. On Tuesday, TSLA stock is up 2.01% in pre-market activity. Analysts have also expressed concern about Tesla’s sales. According to Musk, the upcoming recession “probably” won’t end until the spring of 24.

According to a LinkedIn post, the 9,000-ton equipment for manufacturing truck parts, made by the Italian business IDRA Group, was packed and prepared for shipping. The company will use this machine to die-cast parts for the Cybertruck.