Unnamed sources have told the media the Tesla Cybertruck, first hyped as being available in 2021, won’t begin production until 2023 at the earliest. After a couple of new dates were announced for its availability, the Cybertruck was to begin production later this year. At least, that was before that news was pulled from the Tesla website around Christmas.
Has the EV truck competition caught up with the Cybertruck?
According to Reuters, the source says the reason for the delay is that “Tesla is changing features and functions of the electric pickup to make a compelling product as competition heats up in the segment. As of now, Tesla will produce only a limited amount of Cybertrucks in the first quarter of 2023. Production will then ramp up throughout the year.
The announcements from Ford for its F-150 Lightning EV and Chevy’s Silverado EV have turned up the heat on newer startups looking to cash in on the interest in electric pickup trucks. Just today, Bollinger Motors announced it was pulling out of the consumer truck business to instead, pursue commercial applications.
Even Ram has delayed its EV truck plans until 2025
And Ram recently announced it won’t have an electric truck until 2025 to give it time to add features and technology based on what it sees the competition is offering. Ford has seen well over 200,000 reservations for the Lightning EV. It begins production this spring. And Chevy sold out of its First Edition Silverado electric truck in a few hours. It won’t be in production until the end of 2023 at the earliest.
And while Ford’s market value reached $100 billion, Rivian and Tesla have seen their values sink by around seven percent each. So with the legacy truck makers now setting the parameters for electric trucks, it’s causing ripples throughout the startup EV space. Tesla’s Elon Musk says there will be more on the Cybertruck’s schedule in a January 26 earnings call.
This isn’t the first or second time Cybertruck production has been delayed
Tesla moved starting dates for Cybertruck production twice. First, it shifted from early 2021 to late 2021. Then, it was moved again, this time to 2022. So now here we are and guess what? Production has moved again.
This is typical of Tesla products. Both the Model 3 and Model Y saw development and production delays. So it has become something of a joke when a production date is announced.
Each of the legacy automakers’ best-selling vehicles is the half-ton pickup. So it seems like a missed opportunity for Tesla, which has been marketing electric vehicles since 2008 with its first Roadster. And in many cases, trucks are also the most profitable, which is something that Ford, General Motors, and Ram won’t give up easily. The electric truck wars are raging.