AUSTIN, Texas: Two years later than planned, Tesla has announced that it will start mass producing its Cybertruck at the end of 2023.
In a conference call with financial analysts, Musk said, “We are in the final lap for Cybertruck.”
Tesla is preparing its Austin, Texas plant to build the new truck, with “early production” set to start in the middle of 2023, he added.
However, the pricing of the Cybertruck has not been announced by Tesla.
In 2019, the company forecast an initial price of under $40,000, but prices for new vehicles have since risen, and Tesla has increased prices across its lineup.
The Cybertruck was designed to use Tesla’s in-house 4680 batteries, but Guidehouse Insights analyst Sam Abuelsamid said Tesla has been unable to significantly scale up production of the battery, which could further delay the Cybertruck’s launch until after 2023.
Tesla may have to significantly redesign the Cybertruck batteries to switch to conventional 2170 batteries, he added, according to Reuters.
Last month, Musk said the 4680 batteries are not expected to be “any limiting factor for Cybertruck, or anything else.”
The Cybertruck will give Tesla an entry to one of the most profitable EV segments in the U.S. market, and a competitor to electric pickups from rivals Ford Motor Co and Rivian Automotive.
In January, Musk said shortages in sourcing components were the reason for delaying the launch of Cybertruck until 2023.
