Elon Musk says Tesla will return some Cybertruck deposits
Summary
Elon Musk said Tesla will return Cybertruck deposits to some customers as the company plans to end production at its Texas factory in about eight months. He said Tesla will shift production capacity toward its Cybercab robotaxi line, while rejecting claims that the Cybertruck is being discontinued because it is unprofitable.Key Facts
- Musk said Cybertruck orders exceed Tesla's production rate.
- Tesla plans to stop making the Cybertruck at its Texas factory by mid-2027.
- Musk said Tesla will try to make as many Cybertrucks as possible before shutting down the production line.
- Tesla will return deposits to some Cybertruck customers.
- Musk said shifting capacity to Cybercab production is the reason for ending Cybertruck production.
- Tesla launched the Cybertruck in 2019 with a starting price of $69,000.
- Analyst Dan Ives cited the truck's high price and low demand as factors behind the production decision.
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