Tesla's long-awaited Cybertruck is almost here. These electric trucks will feature a 301 stainless steel exoskeleton, known for its bulletproof capabilities against 9mm rounds and the ability to deflect arrows from compound bows.
At 1500 ET, Tesla is holding a Cybertruck delivery event at its Tesla Giga Texas factory in Austin. The event will showcase the delivery of Tesla's first new passenger vehicle in at least three years, expanding a lineup that includes Models S, 3, and X and a semi-truck.
For many reservation holders, especially the nearly 2 million of them, the event is a welcoming sign that pricing and vehicle specs will finally be released.
During his now-viral conversation with Andrew Ross Sorkin last night, Musk predicted that the Thursday Cybertruck launch would be “by far” this year’s largest product launch.
“[The Cybertruck event] will be the biggest product launch of anything by far on Earth this year,” Musk said during the summit.
“Whether you hate me, like me or are indifferent, do you want the best car or not the best car?”
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Wedbush analyst Dan Ives wrote in a note earlier this week, "This is another historical moment for Tesla and Elon Musk with the Cybertruck unveil as the Street is excited to see the formal vehicle launch featuring the dual-motor trim and its top-level tri-motor AWD performance model along with updates regarding production and scaling of the Cybertruck platform which is expected to be ~250k units per year by FY25."
Ives expects the Cybertruck will cost between $50,000 for the single motor version and up to $80,000 for a dual motor version.
"Although no FY24 delivery targets, we estimate that the company will churn out 2k-3k units this quarter with the first 10k unit quarter to come in 1H24 with pilot production capacity in Austin at 125k units while the reservation count/pre-orders has reportedly topped the ~2 million unit threshold as a gauge of demand," Ives said.
The launch of Cybertruck comes four years after Musk debuted the steel-clad apocalypse-looking vehicle. It also resembles the video game Halo's Warthog light reconnaissance vehicle.
Also, it comes as the billionaire launched a price war against legacy automakers and EV manufacturers to secure EV market share.
Musk said last month that Tesla plans to crank out 250,000 Cybertrucks a year, a production run rate that might be achievable in 2025.