The post Musk Warns Of `Enormous Challenges’ For Tesla Cybertruck Production And Pricing appeared on BitcoinEthereumNews.com.

Tesla CEO Elon Musk speaks at the debut of the Cybertruck in November 2019. AFP via Getty Images Tesla’s long-delayed Cybertruck, its blocky version of a pickup truck, will finally be available in November though CEO Elon Musk cautioned investors to keep their sales expectations in check because of how difficult and costly it is to manufacture. “It’s an amazing product but I do want to emphasize that there will be enormous challenges in reaching volume production with the Cybertruck and then in making the Cybertruck cash flow positive,” Musk said during Tesla’s earnings call on Wednesday. “While I think this is potentially our best product ever — I think it is our best product ever — it is going to require immense work to reach high-volume production and be cash flow positive at a price that people can afford.” The billionaire entrepreneur declined to provide a volume target for the new model’s sales in 2024, though he speculated that it could reach 250,000 sales a year, possibly by 2025. And he provided no further detail on the “enormous challenges” he cited. At its public debut in November 2019 (when design chief Franz von Holzhausen embarrassingly shattered the truck’s supposedly indestructible armor glass), Musk claimed the vehicle would be on the road by 2021 with a base price of as little as $39,900. Tesla hasn’t announced what the truck will really cost when it finally goes on sale, though industry analysts expect the price to be far higher than the one Musk first specified. Musk claims demand for the Cybertruck is “off the charts” with more than 1 million potential buyers putting down $100 to reserve one. It’s not at all clear how many of those people will follow through on the purchase, particularly if its price increases. Tesla is…

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Filed under: News - @ October 19, 2023 9:12 am