Reuters reports Thursday, January 13, 2022, said that the delay was due to Tesla changing the features and functions of the electric pickup to be more competitive with competitors such as the F-150 Lightning.
“Tesla is expected to make limited production of the Cybertruck in the first quarter of 2023 before increasing production,” the source said. Tesla did not immediately respond to a request for comment from Reuters.
Tesla, the world’s top electric carmaker, makes electric sedans and electric SUVs but has missed the pickup truck segment, which is lucrative and hugely popular in America.
Ford said earlier this month it would nearly double annual production capacity for the F-150 Lightning electric pickup to 150,000 vehicles ahead of its arrival this spring at US dealers.
Ford’s market value breached $100 billion for the first time on Thursday while Tesla’s shares fell 6.7 percent and Rivian slid 7.1 percent.
CEO Elon Musk, who launched the Cybertruck in 2019, has delayed production from late 2021 to late 2022.
Musk said he would provide an updated product roadmap on January 26.
“Geez, this year has been a supply chain nightmare & it’s not over yet!,” he tweeted in late November, when asked about the Cybertruck.
Tesla recently removed references to its production schedule from the Cybertruck order website. Last month, the website said, “You will be able to finalize your configuration as production approaches 2022.” Now “the year 2022” has been omitted.
Tesla plans to manufacture the Cybertruck at its plant in Texas, which is expected to start producing Model Y cars earlier this year.