Tesla To Monetize Its Cybertruck From Next Year

Tesla Inc TSLA aimed to commercialize its Cybertruck at the end of 2023, two years after the initial target for the long-awaited pickup truck CEO Elon Musk unveiled it in 2019, Reuters reports.
In October, Tesla said it worked on readying its Austin, Texas plant to build the new model with "early production" in the middle of 2023.
"We're in the final lap for Cybertruck," Musk told a conference call with financial analysts.
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A gradual ramp in the second half of next year to total output for the sharp-angled electric truck would imply that Tesla would not record revenue until early 2024 for a full quarter of production on a new model seen as key to its growth.
It would also imply another year's wait for the estimated hundreds of thousands of potential buyers who have paid $100 to reserve a Cybertruck in one of the most highly anticipated and closely tracked electric vehicle launches ever.
In 2019, Tesla had projected an initial price of under $40,000, but prices for new vehicles have shot higher since then, and Tesla has raised prices across its lineup.
Tesla has pushed back production timing three times.
In January, Musk cited shortages in sourcing components as the reason for pushing the launch of Cybertruck into 2023.
Price Action: TSLA shares traded higher by 2.41% at $233.02 in the premarket on the last check Tuesday.