Tesla To Unveil Updated Cybertruck In Coming Quarter

Tesla Inc TSLA CEO Elon Musk said over the weekend that an updated version of the upcoming Cybertruck will be unveiled in the next quarter.

What Happened: The entrepreneur teased the reveal of the electric pickup in a tweet.

Update probably in Q2. Cybertruck will be built at Giga Texas, so focus right now is on getting that beast built.

— Elon Musk (@elonmusk) March 6, 2021

Musk said the present focus has to be on building the Gigafactory in Texas where the vehicle will be built.

Why It Matters: In October last year, Musk had said that the Cybertruck was going to be “better than what we showed.”

See Also: Tesla Cybertruck And SpaceX Starship To Use A New Alloy, Musk Reveals

The highly anticipated vehicle was first unveiled in November 2019 and was put up for sale on the Tesla website for $39,900 without added incentives.

See Also: Rivian Starts Taking Pickup Orders, With Pricing That Tops Tesla Cybertruck

In May last year, Musk went on a test drive of the Cybertruck with comedian Jay Leno and remarked that the vehicle was  “pretty close” to the final version, but the proportions needed to be 5% smaller to fit in a standard garage.

Price Action: Tesla shares closed nearly 3.8% lower at $597.95 on Friday and fell 0.28% in the after-hours trading.

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