Zinger Key Points
- Tesla's Cybertruck is expected to launch in the fourth quarter and boost the company's volume.
- A new patent published showed that the tailgate of the vehicle could be operated with a smartphone or a wireless key fob.
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Tesla, Inc.'s TSLA Cybertruck is inching closer to the launch date and every new piece of information on the much-awaited vehicle stirs excitement among the Tesla community.
What Happened: A recent international patent application, shared by Twitter user @tempermanant, unveiled an intriguing feature: the Cybertruck’s power tailgate mechanism.
A tailgate is a door at the back of a truck or car hinged at the bottom so that it opens downwards.
According to the patent document, the tailgate can be conveniently operated not only through a smartphone but also with a wireless key fob — a small programmable device that provides access to a physical object.
Why It's Important: Cybertruck is seen as a game-changer for Tesla and it is widely expected to produce the same benefits to volume as the Model Y when it was launched in 2020.
Future Fund's Gary Black noted that the Model Y launch jumpstarted Tesla's volume growth from 36% in 2020 to 87% in 2021. The electric vehicle maker is widely expected to report volume growth of 39% for 2023.
Tesla users see the launch of its Cybertruck as the “iPhone moment” for the company.
While the patent for the tailgate power system is pending approval, its publication offers a glimpse into the innovative steps Tesla is taking to redefine the automotive industry.
Tesla stock closed Thursday's session up 1.98% at $264.61, according to Benzinga Pro data.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
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