Elon Musk Makes New Revelation About the Cybertruck

It was again the star at Tesla's annual shareholder meeting on May 16 in Austin, Texas.

The Cybertruck, the very first pickup truck ever made by the electric vehicle carmaker, remains the most anticipated vehicle of recent years. Elon Musk, the Chief Executive Officer, has confirmed that the first deliveries will take place later this year. 

But he pleasantly surprised shareholders by giving information on the Cybertruck's production targets.

"There will be an S curve of production," the billionaire told shareholders. "So it'll be slow at first and then ramping up and I guess we'll see what the demand is like. We're likely to do probably a quarter million a year I think, maybe more."

He added that the production target will depend on the demand.

'As Many as People Want And Can Afford'

"We don't just need to ramp up production, but we also need to improve the production cost efficiency, which is going to be also a very hard thing. But I'd say a quarter million a year is a reasonable guess," he argued.

He did not rule out Tesla producing more than 250,000 units of Cybertruck per year. This figure could even be doubled.

"It might be 500,000. I don't know but we'll make as many as people want and can afford," he said, warning that the Cybertruck may not be affordable because of the manufacturing cost. 

As a result, "in the grand scheme of things relative to the production rate of all the other cars we make, it will be small. But it's still very cool," Musk said.

Tesla has yet to reveal pricing for the Cybertruck, which will compete with the F-150 Lightning, the electric version of Ford's iconic F-150, and Rivian's R1T.

"I think the product if anything is better than expectations," Musk told shareholders, adding that the Cybertruck is "the car I will be driving on a day to day basis."

The vehicle will be produced at Tesla's Austin plant, which has a production capacity of over 250,000 vehicles per year. This site already manufactures the Model Y SUV.

Adam Jonas, Morgan Stanley's star auto analyst, said last March that Tesla could follow the example of Ferrari and "purposely" limit the production of the Cybertruck, to make it a "limited edition."

Corporate Image

A fleet of Cybertruck prototypes has been circulating for several weeks in the streets of California, according to several videos posted on social networks. Musk himself often commented on some of the videos.

The Cybertruck has been at the center of conversations in the automotive industry for almost four years. It needs no introduction, as Tesla and Musk have made their very first new car, since the Model Y SUV in March 2019, a game changer.

The Cybertruck has been described as something out of the films "Mad Max" and "Blade Runner." Musk himself said that the vehicle had been "influenced partly by 'The Spy Who Loved Me'," in a reference to the amphibious Lotus Esprit S1, featured in the 1977 James Bond film.

Clearly, the goal is to push the envelope, cementing the corporate image of the company as being at the forefront of innovation. Tesla, the leading electric vehicle maker, is not like the others, and this is the message Musk wants to send via the Cybertruck.

Tesla, however, did not give the exact date of the start of production and hasn't unveiled the version of the Cybertruck that will be mass-produced. The order book, however, appears to be full, since the carmaker is no longer taking orders outside North America. 

Some Details

The commercial success of the vehicle seems to be guaranteed, at least in the first months. This vehicle is considered Tesla's next cash machine. Pricing for the Cybertruck has yet to be announced, but auto industry experts estimate a base price of about $40,000. 

The Cybertruck is said to have a low center of gravity, which provides good traction control and torque, enabling acceleration from 0-60 mph in just 2.9 seconds and up to 500 miles of range.

In addition, Tesla said that the pickup truck has up to 3,500 pounds (1,587 kg) of payload capacity, adjustable air suspension and 100 cubic feet of exterior lockable storage, including a tonneau cover "that is strong enough to stand on."

The Cybertruck has also a towing capability of over 14,000 pounds (6,350 kg), the carmaker has said.

"From rugged to refined, Cybertruck is completely adaptable for your needs," the carmaker says on its website. "Prepare for every experience with a versatile utilitarian design — including on-board power and compressed air."

The Cybertruck will have a battery pack size of 100 kWh, according to Musk's Master Plan 3 for Tesla, details of which were unveiled on Apr. 5. It is the same battery size as the brand's two top-of-the-line models -- the Model S sedan and the Model X SUV.