Tesla has finally begun production of its Cybertruck nearly four years after its CEO, Elon Musk, unveiled its design with a 2021 production timeline.
Employees at the company's so-called Gigafactory, located near Austin, Texas, posted an image on Twitter that showed the completed vehicle on Saturday. It included a caption, "First Cybertruck built-in Giga Texas."
Tesla Begins Production of Cybertruck
The massive vehicle's stainless steel alloy body is designed to be strong enough to withstand certain types of small arms fire, Musk claimed. Additionally, the billionaire entrepreneur estimated that the truck could tow up to 14,000 pounds.
Despite the latest development, it remains to be seen when Cybertruck will be available for commercial purchase from a dealership lot or what price they will be sold for. In April, Musk said that the company was expecting to deliver the first truck sometime between July and September, as per CBS News.
Additionally, Tesla did not immediately respond to a request for comment regarding the latest development of the Cybertruck. When the vehicle becomes available commercially, it will be entering an increasingly competitive electric vehicle market, including for pickups.
This comes as Tesla's rival company, Rivian, sells R1T, with a starting price of $73,000, and other companies have their products, such as General Motors' Hummer EV pickup and Ford's F-150 Lightning.
On Monday, Ford dropped the cost of seven models of its Lightning product by between $6,000 and $10,000. The company cited easier access to the truck's battery material, and the price cut partially reversed multiple price increases in 2022 and early this year, which officials blamed on more expensive material costs.
Musk also set a new production schedule for summer 2023 in July 2022. In the electric vehicle manufacturing company's first-quarter 2023 earrings call, he promised to host a delivery event for the Cybertruck toward the end of Q3, according to TechCrunch.
Joining a Profitable Market
During Tesla's 2023 annual shareholder meeting in May, Musk said that the company could deliver between 250,000 to 500,000 units of the Cybertruck every year once they begin production.
Analysts will be on the lookout on Wednesday during the electric vehicle manufacturer's Q2 earnings call for more finalized details on the vehicle's production, delivery, and specifications. Tesla has attributed the delays in the production of the Cybertruck to standard supply chain issues.
However, leaked documents showed other fundamental flaws in Cybertruck's basic design and engineering. A whistleblower leaked in January 2022 100GB of files to German outlet Handelsblatt that showed pre-production prototypes had various issues.
These include vehicle braking, powertrain, suspension, sealing, and structure problems. The report, which also detailed unfulfilled promises from the company, reminded the public of the first reveal event of the truck that was supposed to showcase its durability but instead showed its unbreakable armor glass cracking from an impact.
The launch of the Cybertruck will give the electric vehicle manufacturer an EV entrant to one of the most profitable segments of the United States market, said Reuters.