Carleton English, Ben Levisohn, Andrew Barry and Jacob Sonenshine discuss the impact of Middle East tensions on investors and production hurdles facing Tesla’s Cybertruck.
Investors and customers will meet Tesla’s Cybertruck next week at the EV-maker’s gigafactory in Austin, Texas.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 234.21 | -6.99 | -2.90% |
Ahead of the Thanksgiving holiday, CEO Elon Musk posted on his social media platform X: “Cybertrucks are on their way to Tesla stores in North America!”
The debut is an important milestone for Musk after its production was delayed several times since being announced in 2019 and was further complicated by supply chain disruptions. Musk has also been pulling double-duty running X, formerly known as Twitter. The platform has come under fire in recent days for allegedly placing corporate ads next to antisemitic content. Musk has vigorously denied those allegations.
Next week, Tesla will take center stage as investors look for more details on the Cybertruck and its growth potential for the automaker. Previously, Musk has said he is targeting an annual production of 200,000, with the potential to boost those numbers to 250,000 in 2025.
Tesla co-founder and CEO Elon Musk introduces the newly unveiled all-electric battery-powered Tesla Cybertruck at Tesla Design Center in Hawthorne, California, on Nov. 21, 2019. (Frederic J. Brown / AFP via Getty Images / Getty Images)
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Shareholders of record had the opportunity to throw their hats into a drawing to attend the in-person event on Nov. 30, which is now closed, according to the company. The event will be livestreamed to the public.
Elon Musk said Tesla’s new plants in Germany and Texas are losing “billions of dollars” as the electric-vehicle maker tries to ramp up production. (Jordan Vonderhaar/Bloomberg via Getty Images / Getty Images)
According to auto research firm Kelley Blue Book, the initial cost of a Cybertruck may run customers $50,000.
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Tesla co-founder and CEO Elon Musk speaks in front of the newly unveiled all-electric battery-powered Tesla Cybertruck with shattered windows, after a failed resistance test, at Tesla Design Center in Hawthorne, California on Nov. 21, 2019. (Frederic J. Brown / AFP via Getty Images / Getty Images)
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Last month, Musk also shared a test-drive video of the Cybertruck cruising “one of the most challenging routes in the world,” according to a company engineer in the vehicle.
Using two trucks directly off the line and a Starlink Mobility unit to post the livestream on X, the EV manufacturer followed the Baja 1000 rally route, an off-road raceway that extends up to 900 miles and includes mountains, desert, sandy wash cactus forests and salt ponds.
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The new Tesla vehicle uses ultra-strong glass and polymer-layered composite to absorb and redirect impact force for improved performance and damage tolerance. The electric truck also boasts a “nearly impenetrable exoskeleton,” where every “component is designed for superior strength and endurance, from stainless-steel structural skin to Tesla armor glass,” according to Tesla’s website.
People take pictures of the newly unveiled all-electric battery-powered Tesla Cybertruck at Tesla Design Center in Hawthorne, California, on Nov. 21, 2019. (Frederic J. Brown / AFP via Getty Images)
Tesla also said the vehicle can accelerate from 0-60 mph in 2.9 seconds with up to 500 miles of range. The electric automaker designed the truck to handle up to 3,500 pounds of payload with a towing capacity of over 14,000 pounds for both the “rugged to refined,” the company says, while including on-board power and compressed air.
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Tesla shares have gained over 90% this year, outpacing the S&P 500’s 19% rise through Wednesday.
FOX Business’ Eric Revell contributed to this report.
