Tesla, Inc. TSLA is set to unveil its Cybertruck four years after its initial reveal, generating heightened interest due to its unconventional design.
The Event: This year marks “Cyber Thursday,” as stated in a post on Cybertruck’s X handle, a playful reference to “Cyber Monday.” The delivery event is scheduled for Thursday, Nov. 30, starting at 2 p.m. CT/3 p.m. ET.
Tesla CEO Elon Musk also announced the event, noting, “Cybertruck deliveries start on Thursday.” The early timing contrasts with Tesla’s usual late-evening scheduling for major events.
The Venue: Initial Cybertruck deliveries will occur at Tesla’s Giga Austin factory. Attendees were randomly selected from shareholders who applied to participate. The event will be live-streamed on X, a departure from using YouTube for past events.
Teaser Video: A teaser video released by Tesla showcased the Cybertruck’s stainless steel body and taillight against a black backdrop.
The Cybertruck: Details about specifications, trim levels, and pricing have been kept under wraps. Musk has teased the Cybertruck, stating it will be “the biggest product launch of anything by far on Earth this year.”
Future Fund‘s Gary Black, optimistic about the Cybertruck, expects three trim levels: single-motor, dual-motor, and tri-motor. According to him, initial availability may include the latter two trims with estimated prices of $49,900, $59,900, and $79,900, respectively.
All trims are expected to qualify for the $7,500 EV tax credit starting Jan. 1, 2024, Black said.
Black’s estimated ranges and acceleration times:
- Single-motor: 250 miles / 6.5 seconds
- Dual-motor: 300 miles / 4.5 seconds
- Tri-motor: 400 miles / 2.9 seconds
Deepwater Asset Management’s Gene Munster said in his preview Tesla will likely produce 35,000 units in 2024 and 175,000 units in 2024. He said the 250,000-unit-rate flagged by Musk will likely be achieved only by 2026.
While calling the Cybertruck a spectacular vehicle that will catch a lot of attention, Munster said the vehicle will not cause much pop to overall delivery numbers and have only a marginal impact on growth.
Tesla fans are optimistic and see the commercial launch as Tesla’s iPhone moment.
Tesla ended Wednesday’s session down 1.05% at $244.14, according to Benzinga Pro data.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
