The production of Tesla's much-anticipated Cybertruck has been put back until 2023, CEO Elon Musk said on Wednesday, at a time when other companies are stepping up their efforts to get a piece of the lucrative market.
The news confirms a report from Reuters earlier this month. It comes as the electric-vehicle maker reported record quarterly revenue and more than 50% growth in deliveries for 2022, despite supply chain issues. Elon Musk, who showed off the futuristic car in 2019, pushed back its production from late 2021 to late 2022.
Elon Musk says that Tesla will be ready to launch Cybertruck, Semis, Roadsters, and its humanoid robot in the next few years.
"This year, we will not be making any new car models. So it would not make sense because we will still be limited in some ways, so it would not make sense." There was a meeting where Musk talked to a group of analysts.
It would then take a lot of time and resources to deal with the added complexity of the new product, which would lead to fewer cars delivered this year.
Elon Musk said he wants to make a quarter million Cybertrucks a year, but it will take time because there is a lot of new technology that needs to be used.
"Batteries are not likely to be the only thing stopping Cybertruck production," he said. "I feel anxious more about how we can make the Cybertruck more cost-effective, even though it has great technology," he pointed.
In January, Reuters said that Tesla was putting off making its Cybertruck because it changed features and functions. After all, there was more competition in the electric pickup market.
Tesla, which started making electric cars with the Tesla Model S and later made a more affordable car called the Tesla Model 3, has not yet made a pickup truck. This is a very profitable market for U.S. automakers, but Tesla has not yet made a pickup truck.
"It is great to drive the new Tesla Cybertruck prototype around the new Gigafactory in Austin, Texas," said Elon Musk on Tuesday.
Ford and Rivian Automotive have jumped ahead of Tesla in the electric pickup race. Starting this month, Rivian will be delivering its R1T pickup truck. Ford will begin producing its F-150 Lightning electric pickup in the spring of this year. Also, General Motors's Silverado electric pickup will arrive in 2023.
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