Tesla made the announcement during an earnings call to discuss its third-quarter financial results. Tesla CEO Elon Musk had said in April that Cybertruck deliveries would begin in Q3, but that clearly didn't happen. Still, the reported millions of customers who have reserved a Cybertruck will be happy to know that it is finally becoming a production reality.
According to Tesla's financial reports, the Cybertruck is currently in pilot production and the company has the capacity to build 125,000 units at the Texas Gigafactory. Musk added that he hopes Tesla will eventually be able to build up to 250,000 Cybertrucks per year, but that it probably won't reach that mark until 2025.
While deliveries of the Cybertruck are just six weeks away, Tesla has not mentioned how much the Cybertruck will cost. When it was first announced in late 2019, the automaker said it would start at $39,900, with a mid-range variant starting at $49,900 and a flagship three-motor model available from $69,900. Those pricing figures disappeared from Tesla's website in 2021, and there has been no mention of pricing since. Production specifications for the Cybertruck also remain a mystery.
While speaking to analysts and investors, Musk added it will take up to 18 months before the Cybertruck is a positive cash flow contributor to the company.
“I just want to temper expectations for Cybertruck,” he said. “It’s a great product, but financially, it will take a year to 18 months before it is a significant, positive cash flow contributor. I wish there was some way to be different but that’s just my best guess. So I just want to emphasize that, one, I think this is potentially our best product ever… [but] it’s going to require immense work to reach value production and be cash flow positive at a price that people can afford.”
Source: Tesla