Elon Musk Defends Controversial Cybertruck Pickup

Tesla CEO Elon Musk made headlines once again as he took the stage to reveal details about the company’s new Cybertruck pickup on Thursday in Austin, Texas, just one day after his much-talked-about appearance at the DealBook Summit in New York. The event in Texas came after Musk had bragged that the Cybertruck launch would be the “biggest product launch of anything by far on Earth this year.”

Musk addressed a crowd of fans in a dimly lit space at Tesla’s headquarters, showing enthusiasm for the unconventional vehicle. He boasted, “What we have here is a better truck than a truck, while also being a better sports car than a sports car in the same package.”

Key Features of the Cybertruck

During the presentation, Musk highlighted the Cybertruck’s hard steel body, touting its bulletproof nature and “rock proof” windows. He revealed that the vehicle could tow over 11,000 pounds, accelerate from 0 to 60 miles per hour in 2.6 seconds, and featured a “super-tough” composite bed that is six feet long and four feet wide. According to Musk, the Cybertruck would “change the look of the roads” and usher in a future that “finally looks like the future.”

Elon Musk’s Ambiguity on Pricing and Battery Range

Despite his enthusiasm, Musk did not directly mention the pricing and battery range of the Cybertruck during his presentation. However, he presented several “production Cybertrucks” to ecstatic customers, who drove away in the sleek vehicles.

Tesla’s Website Reveals Pricing Details

Details about the Cybertruck’s pricing and models were later revealed on Tesla’s website. The company announced that the rear-wheel drive base model of the Cybertruck is now priced at around $60,990 and that a “Cyberbeast” version is available for $99,990, while the all-wheel drive version is priced at $79,900. Deliveries for some models are projected to start as late as 2025.

Challenges Ahead for Tesla with Cybertruck

Musk’s ambitious promises about the Cybertruck stand in contrast to his cautionary tone during an October earnings call, where he acknowledged “enormous challenges in reaching volume production” and making the Cybertruck “cashflow positive.”

The Future of the Electric Pickup Truck Market

Tesla’s unveiling of the Cybertruck comes amid intensifying competition in the electric pickup truck market. Rivals such as Ford, General Motors, and Rivian have also entered the scene, offering their own utilitarian electric pickups.

Despite the excitement around Tesla’s Cybertruck, the U.S. electric pickup truck market has not expanded as quickly as initially anticipated. Some startups that brought vehicles to market have seen little success, and traditional automakers like GM and Ford have made changes to their EV products and investments, including those related to electric trucks.

As a result, Tesla’s share price closed lower Thursday by about 2%, continuing to reflect uncertainty in the electric vehicle market.