Tesla Unveils Cybertruck Pricing: Base Model at $60,990, Available in 2025.
Palo Alto, California: After enduring years of development challenges, Tesla finally delivered its highly-anticipated Cybertruck, a Blade Runner-esque electric pickup.
CEO Elon Musk handed over the first units, including one to Reddit co-founder Alexis Ohanian.
The company provided pricing and specifications updates, revealing the base version will cost $60,990, an increase of over 50% from the initial estimate four years ago. However, this model won’t be available until 2025.
Tesla is currently accepting reservations for three configurations, with two slated for delivery next year, priced at approximately $79,990 and $99,990. The model with the longest battery range is expected to cover about 340 miles on a single charge, falling short of the initially touted 500 miles.
“It’s a lot more expensive than I thought,” commented Gene Munster, a managing partner at Deepwater Asset Management.
“They need to get production up to get the price down, and they know they can’t produce a lot of them next year. The reality is that the Cybertruck isn’t really out yet.”
Following the announcement, Tesla shares experienced a drop of up to 2.1% before regular trading began.
Musk, in his delivery event, emphasized the Cybertruck’s unique features, such as its angular design, attributed to the use of stainless-steel body panels that can’t be stamped.
The Cybertruck marks Tesla’s entry into the fiercely competitive US pickup market, generating a mix of excitement, criticism, and skepticism. Some analysts have suggested canceling the truck due to concerns about profitability and resource diversion. Musk himself acknowledged the considerable challenges in producing the pickup.
During the presentation, Musk highlighted the Cybertruck’s robustness, showcasing its durability by withstanding a baseball thrown at the front passenger-side window. The pickup’s performance capabilities were also emphasized, claiming it can reach 60 mph in as little as 2.6 seconds and showcasing its towing capacity of up to 11,000 pounds.
While the Cybertruck offers impressive features, the base model’s starting price is higher than the commercial-grade electric F-150, starting at $49,995, and the base retail model at $54,995. The high-end version, known as Cyberbeast, can achieve over 440 miles of range with an additional toolbox-size battery in the bed.
Source: Bloomberg