Electric vehicle company Tesla Inc TSLA completed its first deliveries of the highly anticipated Cybertruck electric pickup truck last week.
In a new interview, Tesla CEO Elon Musk went into details about the Cybertruck, why it was delayed and what he wished to accomplish.
What Happened: Analysts praised the design of the Cybertruck, but remain cautiously optimistic about the pricing for the electric pickup truck.
In an interview with automotive engineer Sandy Munro, Musk shared more details about the hardships of building the Cybertruck and getting it to production.
Musk said the regulatory tests were extremely difficult.
"Prototypes are easy, production is hard," Musk said.
Musk and Munro shared a technical discussion on the items added to the Cybertruck with Munro praising what Musk accomplished. In acknowledgment of the praise, Musk questioned if many of the items were breakthroughs for the Cybertuck.
"What we're doing is we're making the obvious move, they seem very obvious to me."
Munro praised the steer-by-wire, roomier backseat in the Cybertruck and the windshield wiper, which Musk said is like a katana sword.
"I specifically wanted to make something that looks like the future," Musk added. "What car would Blade Runner drive?"
First unveiled in 2019, Tesla originally said the Cybertruck would hit production in 2021, but it faced several setbacks. Musk clarified reasons why the Cybertruck didn't hit the market until 2023.
"There was a worldwide pandemic, global chip shortage."
Musk added that a shortage of so many parts wouldn't have made sense to bring the Cybertruck to market.
"It would have made the company worse."
Musk said there was no point in bringing a new model to market when Tesla couldn't make enough of the cars it already was producing.
Related Link: EXCLUSIVE: Cathie Wood Says Cybertruck Will ‘Expand The Truck Market’
What's Next: Musk was cautious when asked about future production numbers for the Cybertruck during his interview with Munro.
The Tesla CEO said it's hard to forecast the production ramp of vehicles with thousands of unique parts and processes to scale production.
Musk said the Cybertruck won't be material to Tesla's financials in 2024 and will make up just a small percentage of the vehicles the company makes.
"It will probably be material in 2025."
TSLA Price Action: Tesla shares traded at $238.72 at market close Tuesday versus a 52-week trading range of $101.81 to $299.29. Shares of Tesla are up 120% year-to-date in 2023.
Photo: Shutterkstock; Courtesy Tesla
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