Tesla’s long-awaited Cybertruck, with its eye-catching stainless steel exterior and unconventional design, has finally hit the market. Originally estimated by CEO Elon Musk in 2019 to cost around $40,000, the starting price has surged to $60,990, marking a steep increase of over 50%. This price jump positions the Cybertruck as a luxury item for a select group of affluent buyers.
The vehicle’s unique aesthetics, inspired by a car-turned-submarine from the 1977 James Bond film “The Spy Who Loved Me,” add to its allure but also contribute to its higher production costs. Despite this, Musk asserts that the Cybertruck offers more utility than a typical truck and boasts superior speed, comparing it favorably to a sports car.
The Three Different Cybertruck Variants
Tesla unveiled three variants of the Cybertruck, ranging in price from $60,990 to $99,990. The ‘Cyberbeast,’ the highest performance model, and an all-wheel-drive version starting at approximately $80,000 are expected next year, while the most affordable rear-wheel drive model, starting around $61,000, is slated for release in 2025. Notably, the cheapest model is scheduled two years after the initial debut, potentially to cater to a wider market segment.
Tesla Cybertruck Priced Similarly to Competitors
Despite the price hike, Tesla experienced a 2% dip in shares in extended trading following the announcement, indicating market reactions to the new pricing strategy. The Cybertruck’s entry into the competitive electric vehicle (EV) market places it against formidable rivals such as Ford’s F150 Lightning, Rivian Automotive’s R1T, and General Motors’ Hummer EV. These competitors offer a range of prices and features, with the F150 Lightning starting at about $50,000 and the Hummer EV exceeding $96,000.
Cybertruck Range and Production Estimates
Tesla’s Cybertruck boasts a range of 340 miles, extendable to 470 miles with an additional battery pack. However, some experts are skeptical of these range estimates, noting that Tesla vehicles often fall short in real-world driving conditions. Tesla aims to produce approximately 250,000 Cybertrucks annually by 2025, although this figure was not updated at the recent announcement.
In a nod to its previous unveiling, where a demonstration of the truck’s “armor glass” went awry, Tesla’s chief designer Franz von Holzhausen successfully tested the window’s durability at the recent event, showcasing its resilience. This moment symbolized Tesla’s commitment to innovation and its ability to overcome initial setbacks.