Elon Musk unveils details of Tesla’s new Cybertruck pickup in Austin, Texas
In an electrifying event in Austin, Texas, Tesla CEO Elon Musk took the stage to reveal details about the company’s new Cybertruck pickup. This came just a day after a bizarre interview at the DealBook Summit in New York, where Musk boasted it would be the biggest product launch of anything by far on Earth this year.
Unveiling the Cybertruck
The event took place in a dimly lit space at Tesla’s headquarters, with Musk hyping up the fans in attendance, calling it “a better truck than a truck, while also being a better sports car than a sports car in the same package.” He announced that the Cybertruck’s hard steel body was bulletproof, and its windows were “rock proof.” Musk also highlighted the vehicle’s towing capability of over 11,000 pounds, as well as its impressive acceleration.
Pricing and production challenges
However, Musk did not directly mention the pricing and battery range for the Cybertruck. On Tesla’s website, it was revealed that the base model rear-wheel drive version is now priced some 50% higher than the $40,000 the company originally aimed for. Musk also presented several “production Cybertrucks” to beaming customers who drove away in them.
Pricing and battery range
According to Tesla’s website, the base model rear-wheel drive Cybertruck is expected to have a 250-mile range battery and accelerate from 0 to 60 miles per hour in 6.5 seconds. Additionally, the company plans to sell an all-wheel drive version for $79,900 starting in 2025.
Challenges and competition
During an earnings call in October, Musk acknowledged the “enormous challenges” in reaching volume production with the Cybertruck. The company also began taking $100 refundable “reservations” for the Cybertruck after it was unveiled, receiving over a million reservations. While Tesla unveiled its Cybertruck design in 2019, it only began early Cybertruck production in July this year.
Competitors in the electric pickup market include Ford, General Motors, and Rivian, who have also entered the space. The U.S. electric pickup truck market has not expanded as quickly as some thought when the Cybertruck was initially revealed, with several startups either bringing vehicles to market with little success or scaling back their EV products and investments.
Tesla shares closed lower Thursday by about 2%. With a mix of excitement and caution, Tesla’s Cybertruck is set to change the future of electric pickups.
