After multiple sightings and an official announcement concerning the first Cybertruck rolling off the production line, a new report said the production of Tesla, Inc.'s (NASDAQ:TSLA) newest electric vehicle has begun.
What Happened: Tesla could be prepping for a fall delivery event for the Cybertruck, Forbes reported, citing video clips of car carriers loaded with the vehicle. The marks progress, given social media posts so far carried only shots of camouflaged Cybertrucks on the move, interior videos, and drone pics of Giga Austin, where the vehicle is being made, the report said.
Tesla said in its second-quarter earnings update said the shipped Cybertrucks were “release candidate builds” and they were meant for testing around the world for certification and validation.
Pricing, Reservations: Cybertruck pricing will start at around $50,000, the report said, citing Matt Degan, senior editor of Kelley Blue Book. In comparison, Ford Motor Co.'s (NYSE:F) F-150 Lightning EV pickup truck has a starting price of $49,995.
Incidentally, when the EV was first announced in late-2019, CEO Elon Musk hinted that the starting price would be around $39,900.
Degen reportedly said,” The price of the forthcoming Cybertruck is a moving target.” Going by Musk's current strategy of making EVs more affordable amid the trying economic situation, Cybertruck pricing could get down to $39,900, the report said. In California, the vehicle can enjoy a combined $15,000 in federal and state subsidies, it added.
Reservations for the Cybertruck are fast approaching the 2 million mark, according to a crowdsourced reservation tracker. Net reservations for the vehicle currently stands at 1.963 million.
Tesla ended Monday’s session 7.33% at $231.28, according to Benzinga Pro data.
