- Web Desk
Tesla Cybertruck set for highly anticipated debut on Nov 30
- Web Desk
- Nov 29, 2023
WEBDESK: After a decade of anticipation and a prolonged wait, Tesla is gearing up for the long-awaited unveiling of its Cybertruck on Thursday, November 30.
Tesla CEO Elon Musk took to the social media platform X to confirm, stating, “Cybertruck deliveries start on Thursday.”
The event follows an unforgettable reveal and years of expectations, with some Cybertruck enthusiasts patiently waiting for four years. According to Wedbush, the waiting list for a Cybertruck has now exceeded 2 million.
In preparation for the event, Wedbush analyst Dan Ives published a note maintaining a positive outlook on Tesla, reaffirming an “outperform” rating and a $310 price target.
Ives expressed excitement about the Cybertruck launch, anticipating details on the dual-motor trim, top-level tri-motor AWD performance model, and updates on production and scaling.
Ives speculated on the pricing, estimating the Cybertruck’s cost to range between $50,000 for the single motor version and up to $80,000.
He highlighted Tesla’s shift to building 100 per cent Cybertruck cells in Austin, streamlining operations to achieve the targeted annual capacity of approximately 250,000 units by FY25.
While acknowledging potential challenges for Cybertruck production, Elon Musk emphasised its significance in Tesla’s growth story.
Ives noted that the impact on Tesla’s financials in FY24 might not be substantial, but the launch reaffirms Tesla’s leadership in the EV industry.
The anticipation has been growing since Tesla’s mid-October conference call, where Musk warned of “enormous challenges” in reaching high-volume production and making the Cybertruck cash flow positive. Despite the challenges, Musk highlighted the Cybertruck’s potential as one of Tesla’s best products.
As the curtain lifts on the Cybertruck this Thursday, the electric vehicle community awaits eagerly to witness this monumental moment in Tesla’s journey.