Cybertrucks to be delivered by Tesla following Musk's lowering of expectations

Today is the day that Tesla is scheduled to begin shipping its much-anticipated Cybertruck electric pickup. This comes after CEO Elon Musk dampened investor expectations by pointing out difficulties in increasing production of the "radical" product.

The Cybertruck, Tesla's first new model in almost four years, is essential to the company's standing as a producer of cutting-edge automobiles. Cybertruck is also essential for driving sales at a time when the company is fighting growing competition and waning demand for electric vehicles (EVs), though not to the same degree as the company's high-volume Models 3 and Y.

"We dug our own grave with Cybertruck," Musk declared last month, announcing that it would take up to 18 months for the car to become a substantial source of cash flow.

Musk promised in 2019 that the truck would cost $40,000, but in spite of growing raw material costs, he has not provided an updated price.

Musk garnered media attention on a different topic prior to the launch, spitting profanity during a Wednesday interview with the New York Times. Because of antisemitic remarks, he cursed advertisers who had left his social media platform X, which was formerly known as Twitter. He added that those who didn't like him should assess his goods—including Tesla electric vehicles—based solely on their merits.

According to the billionaire, Tesla is expected to produce about 250,000 Cybertrucks annually by 2025. With the Cybertruck, Tesla has encountered "enormous challenges in reaching volume production" due to its novel technology and design, according to Musk.

Experts warn that the unconventional, futuristic styling and novel body material of the Cybertruck could alienate traditional pickup truck buyers who prioritise utility while also increasing production complexity and costs.

In the 2019 release, Musk broke the truck's unbreakable "armour glass" window with a sledgehammer while demonstrating it.

Musk hinted a few years ago that Tesla could "build a normal looking truck" in case consumers did not like the futuristic Cybertruck design. It is the innovation of the model that he has highlighted in recent calls and interviews.

Two years behind schedule, Cybertruck joins a competitive and lucrative pickup truck market that includes the Ford F150 Lightning, the Rivian Automotive R1T, and the General Motors Hummer EV.

(Sources: investing.com, reuters.com)