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Tesla plans to mass produce its Cybertruck at end of 2023 after years of delay — Reuters

Tesla‘s expected launch date for mass production of its Cybertruck will likely be pushed back to the end of next year because of insufficient manufacturing capacity, according to two people with knowledge of the plans, Reuters reports.

That date would mark two full years later than the company’s original target for mass production of the pickup truck, which Elon Musk initially unveiled in 2019.

Last month, the electric vehicle maker announced it was prepping its plant in Austin, Texas, to build the Cybertrucks, and gave a new date of mid-2023 for “early production.” At the time, Musk blamed supply chain challenges for the delay and said the company was in “the final lap for Cybertruck.”

If the revised timeline holds, that means Tesla won’t see total output for the truck before the end of next year and will record the first full quarter’s production revenue in 2024.

The soft launch would allow Tesla to meet its self-imposed deadline and prove that production of the Cybertruck is on schedule, despite the previous delays. Tens of thousands of buyers have paid the $100 deposit required to reserve one of the electric pickup trucks and likely will see deliveries in the final months of next year or early 2024.

Starting prices for the EV Cybertruck are expected to be much higher than the original $40,000. The revenue from those sales could be a factor in analysts’ predictions for the company’s financial situation moving into 2024.

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