Elon Musk Reveals Delivery Date of the Cybertruck

Tesla will deliver the very first models of its long-awaited pickup truck at the end of the third quarter, the chief executive said on April 19.

The wait is almost over. 

Nearly four years after the presentation of the Cybertruck, the very first pickup truck from electric vehicle manufacturer Tesla  (TSLA) - Get Free Report, fans of the brand and the automotive industry will finally see this vehicle on the roads. 

Elon Musk, CEO of the Austin, Texas-based automaker announced on April 19 that the company will make the first deliveries of the Cybertruck in the third quarter. In other words, Tesla will deliver this vehicle to customers between July and September, that is to say in a very short time.

"We continue to build Alpha versions of the Cybertruck on our pallet line for testing purposes," the billionaire told investors during Tesla's first quarter's earnings' call. "It's a great product and we're completing the installation of the following production line at Giga Texas."

'Around End of Q3'

"We're anticipating having a delivery event, a great delivery event probably in Q3," he said.

The tech mogul didn't give an exact date but later said the delivery event should take place "around end of Q3," which means end of September.

"Can you give updated specs and pricing for Cybertruck and any new features that will make it to production?" Musk was asked during the call.

"We'll save that for the Cybertruck handover which will hopefully be around the end of Q3 this year," he responded. "And one thing I am confident of saying is that it's an incredible product. It's a Hall of Famer. I think a product like this only comes along once in a long while. So it will not be disappointed at all. It's amazing."

He also said that the production would follow the classic cycle, i.e. a soft start before an acceleration of operations.

"The cybertruck is no different," Musk said. "There's transparent demand for the product. Obviously, it  might be a fantastic product, a Hall of Famer. But as with all products, it takes time to get the manufacturing line going."

The serial entrepreneur, who is the best salesman for the products and services developed by his companies, then created excitement around the Cybertruck as he has been doing for several months.

"This is really a very radical product. It's not made in the way that other cars are made," the billionaire hyped.

"We've pulled people away from their kind of normal comfort zone and brought them something that's just radically different and will be on the street radically different and, you know, if you're not used to attention might be a little tough in the beginning," Franz von Holzhausen, Tesla's chief vehicle designer, said about the Cybertruck in January.

Start of Production Confirmed

Shortly before the call, Tesla had confirmed that production of the pickup truck, which will arrive in a market already occupied by Rivian  (RIVN) - Get Free Report with its RT1 and Ford with its F-150 Lightning  (F) - Get Free Report, would start later this year, as announced in January.

"Cybertruck remains on track to begin production later this year at Gigafactory Texas," Tesla said on April 19 during the publication of its first-quarter earnings, adding that equipment installation for the production continued in the first three months of the year.

It said that "Cybertruck factory tooling on track; producing Alpha versions."

Indeed, 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 sent by Musk via the Cybertruck.

A Possible Cash Machine

Tesla, however, does 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. 

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.  Musk declined to provide a price range on April 19.

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 and 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 April 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.

The Cybertruck will compete with Rivian's RT1  (RIVN) - Get Free Report, Ford's F-150 Lightning  (F) - Get Free Report and General Motors' Chevrolet Silverado  (GM) - Get Free Report.