Tesla Removes Need For Reservation To Get Foundation Series Cybertruck: Limited Edition Version Starts At $99,990

Tesla Inc TSLA on Thursday removed the need for a reservation to get a limited-edition foundation series Cybertruck.

What Happened: The foundation series refers to a limited and pricier edition of the Cybertruck with laser-etched foundation series badges and premium accessories. The company intends to make it only for the first year of deliveries.

Until recently, only customers who had a prior reservation for the Cybertruck could get a foundation series. Reservation holders got an invite to configure their Foundation series trucks.

However, Tesla on Thursday revamped its order website to allow customers to order the truck directly without reservation. While the Foundation series all-wheel drive version of the truck starts at $99,990, the more premium Cyberbeast version starts at $119,990.

While the AWD version will delivered between August and September, the Cyberbeast variant will be delivered between October and December, as per the website.

Reserving The Range Extender: While placing an order, customers can also opt to reserve the range extender priced at an estimated $16,000. The "range extender" is an alternate battery pack for the Cybertruck about the size of a third of the truck bed. 

According to Tesla, the all-wheel drive version of the Cybertruck can offer an estimated 470 miles of total range with a range extender while the Cyberbeast version can offer a maximum range of over 440 miles. Without the extender, the two versions offer a range of 340 miles and 320 miles, respectively. However, the additional battery is sold separately and requires a separate installation.

The production of the range extender is expected to start in early 2025. Customers can reserve the additional battery for an added $500 with the truck. The reservation amount, however, is non-refundable.

Why It Matters: Tesla started delivering the Cybertruck in late November. During Tesla’s annual shareholder meeting in early June, Tesla CEO Elon Musk said that the company has touched a weekly production record of 1,300 Cybertrucks. The company is now ramping production further to touch 2,500 units per week by the end of the year with the aim to deliver 250,000 Cybertrucks a year starting in 2025.

In late June, Tesla sent a mail to Cybertruck reservation holders saying that the company intends to deliver only the Foundation series Cybertrucks through late 2024, owing to "continued high demand." It is unclear as to how many Foundation series units Tesla intends to manufacture.

According to Kelley Blue Book estimates, Tesla sold 8,755 Cybertrucks in the second quarter in the U.S., and just 2,803 in the first quarter. 

Cybertruck production is on track to achieve profitability by the end of the year, the company said during its second-quarter earnings in July.

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