Tesla Cybertruck will start shipping next month, two years late

After years of anticipation and numerous delays, Tesla’s much-anticipated Cybertruck is finally hitting the roads. The electric vehicle (EV) manufacturer announced that deliveries of the luxury EV SUV will commence on November 30 to select customers. These initial deliveries precede the vehicle’s full-scale production set to begin next year at Tesla’s Gigafactory in Texas.

Read: Elgato has launched a teleprompter made for streaming

Notably, the Cybertruck is undergoing significant changes in its electrical architecture to support a new 800-volt standard. This upgrade is a shift from the 400V architecture utilized by Tesla’s existing lineup. The adoption of 800V architecture is a notable trend among luxury, performance, and heavy-duty EV models, including the Audi e-Tron and GMC Hummer EV. The higher voltage architecture allows EVs with larger battery capacities to charge at faster rates, reducing overall charging time while maintaining the integrity of the vehicle’s wiring harness.

Tesla CEO Elon Musk expressed his enthusiasm for the Cybertruck during an investor call. He emphasized the groundbreaking nature of the vehicle’s technology and design but also acknowledged the substantial challenges ahead. “This is normal for when you’ve got a product with a lot of new technology, or any brand new vehicle program — but especially one that is as different and advanced as the Cybertruck,” Musk explained. “It is going to require work to reach planned production and be cash-flow positive, at a price that people can afford.”

Despite the forthcoming Cybertruck launch, Tesla’s production and deliveries for its existing models experienced a seven percent decrease this quarter, equivalent to around 30,000 units compared to the previous quarter. However, these numbers remain substantially higher than the previous year, with an increase of approximately 100,000 units in comparison to 2022.

Tesla has adjusted the prices of its vehicles multiple times this year, with substantial reductions in March, September, and early October. These price adjustments have made Tesla’s EVs more accessible to a broader audience. For instance, the Model X, which initially retailed for $120,990 in early 2023, is currently listed at $79,990. Similar price reductions have been applied to the Model S, Model Y, and Model 3, which now retail for $74,990, $52,490, and $38,990, respectively. Tesla reported that its cost of goods sold per vehicle decreased to approximately $37,500 in the third quarter.

Elon Musk has previously shared his willingness to reduce margins in exchange for increased sales volume. In July, he stated, “I think it does make sense to sacrifice margins in favour of making more vehicles.”

Tesla’s commitment to advancing AI remains unwavering. The company has doubled its processing power dedicated to training its vehicular and Optimus robot AI systems compared to the previous quarter. Additionally, the Optimus robot is receiving hardware upgrades and is being trained using AI, moving away from “hard-coded” software. Tesla’s continued investment in AI underlines its commitment to innovation and technological leadership in the EV industry.