Elon Musk said on X that Tesla will wind down Cybertruck production next year. The factory space will be used for the Cybercab robotaxi instead. He announced it in a short post, without a launch event.
Tesla had hoped to sell about 250,000 Cybertrucks a year. It has sold only about 70,000 in total. SpaceX, Musk's rocket company, bought many of them to soak up unsold stock.
The timing was notable. It came three days after Musk spent heavily on Republican campaigns and lost. He put more than $445 million into races, including over $200 million in Texas.
π The Backstory
The Cybertruck was revealed in 2019 with a wedge shape and a stainless steel body. It was praised as bold and mocked for its size, price and giant windscreen wiper. Production began years later than promised.
Electric pickup sales have grown more slowly than expected. Rivals like Ford and Rivian have also struggled, and buyers have been put off by high prices and charging worries.
π― Why It Matters
The Cybertruck's failure shows how hard it is to sell a radical vehicle at a high price. It also shows how quickly a CEO's political bets can hurt a brand.
Elon Musk said on X that Tesla will wind down Cybertruck production next year. The factory space will be used for the Cybercab robotaxi instead. He announced it in a short post, without a launch event.
Tesla had hoped to sell about 250,000 Cybertrucks a year. It has sold only about 70,000 in total. SpaceX, Musk's rocket company, bought many of them to soak up unsold stock.
The timing was notable. It came three days after Musk spent heavily on Republican campaigns and lost. He put more than $445 million into races, including over $200 million in Texas.
The Cybertruck was revealed in 2019 with a wedge shape and a stainless steel body. It was praised as bold and mocked for its size, price and giant windscreen wiper. Production began years later than promised.
Electric pickup sales have grown more slowly than expected. Rivals like Ford and Rivian have also struggled, and buyers have been put off by high prices and charging worries.
The Cybertruck's failure shows how hard it is to sell a radical vehicle at a high price. It also shows how quickly a CEO's political bets can hurt a brand.