Tesla Cybertruck deliveries begin for the $80,000 to $100,000 version, cheaper models to come in the following year

On Thursday, November 30th, at around 3:30 PM Eastern Time, the Tesla delivery event officially kicked off. Tesla CEO Elon Musk personally drove a silver-gray Tesla onto the stage to give a speech.

He emphasized the durability of this electric pickup truck, stating that its stainless steel body is corrosion-resistant and does not require paint, yet it can still be mass-produced. The unconventional design is due to the stainless steel being too hard to be stamped like traditional car panels.

Tesla's Chief Designer, Franz Von Holzhausen, threw two steel balls at the Tesla again, but this time, neither the car windows nor the body were damaged. In a similar demonstration in 2019, the "indestructible" "armored glass" was shattered.

During the event, Tesla's tagline was "More practical than a truck, faster than a sports car." The traction demonstration outperformed the Ford F-150 Lightning electric pickup, the Rivian R1T electric pickup, and the Ford F-350 diesel pickup.

At the same time, Tesla towed a Porsche 911 sports car and surprisingly beat another Porsche 911 in a straight-line acceleration race.

Tesla claims that the Cybertruck has a payload capacity of 2,500 pounds and can tow objects weighing up to 11,000 pounds. The cargo bed size is 6 feet long and 4 feet wide (approximately 183 cm long and 122 cm wide). Moreover, the high-end version can accelerate from 0 to 60 miles per hour in just 2.6 seconds and cover a quarter-mile in less than 11 seconds.

Some analysts pointed out that Tesla's payload capacity exceeds the maximum of 2,200 pounds for the Ford F-150 Lightning electric pickup, but the upcoming Stellantis company's Ram 1500 Rev electric pickup, which will start production in late next year, may have a payload capacity of up to 2,700 pounds.

Tesla's towing capacity also matches that of other competitors and remains consistent with the initial design specifications from 2019, although it may be lower than the maximum of 14,000 pounds for the Ram 1500 Rev.Meanwhile, the towing capacity of 11,000 pounds is estimated to be between the initial design of the dual-motor version (able to tow 10,000 pounds) and the tri-motor version (able to tow 14,000 pounds).

Observers noted that this delivery event lasted only 25 minutes, making it one of the shortest events in Tesla's history. The speed of the pickup truck was not demonstrated on-site, but rather viewed through videos. Pricing and range information were also not directly provided.

After the event, Tesla's stock price in the US market briefly widened its decline to about 3% during the closing session, ultimately closing down nearly 2% for the second consecutive day from a six-week high.

According to its official website, the range is approximately 250 to 340 miles, with a starting price of $61,000 for the Tesla without tax incentives and $49,000 with incentives. Several high-priced Tesla models will be delivered in 2024, with the least expensive model set to be released in 2025.

At the end of the event, Tesla stated, "It's great to see these vehicles driving around, it will change the look of the roads."

According to the latest price information summarized by the media, the three Tesla models will be priced between $60,000 and close to $100,000, with deliveries starting in 2024 and 2025. A refundable deposit of $250 is required for reservations:

Rear-wheel drive version: priced at $60,990, available for delivery in 2025, with a range of 250 miles and the ability to accelerate from zero to 60 mph in 6.5 seconds.

All-wheel drive version: priced at $79,990, available for delivery in 2024, with a range of 340 miles, a top speed of 112 mph, 600 horsepower, 7,436 pound-feet of torque, and a towing capacity of 11,000 pounds.

The top-end "Cyberbeast": priced at $99,990, available for delivery in 2024, with a range of 320 miles, the ability to accelerate from zero to 60 mph in 2.6 seconds, a top speed of 130 mph, 845 horsepower, 10,296 pound-feet of torque, and a towing capacity of 11,000 pounds.

Gossip details before the event, fans ride and exclaim "hehehe" in joy, and the entry cards are all made of stainless steel

Prior to this, on Thursday, November 30th, around 1:00 PM Eastern Time, Tesla CEO Elon Musk announced on social media that the first batch of electric pickup trucks from Tesla would be delivered within two hours.

Netizens have claimed that there is a long queue at the entrance of Tesla's Gigafactory in Austin, Texas, during the delivery event.

Some people have described the futuristic-looking Cybertuck production line as "resembling the future."

Others have showcased the stainless steel badges given at the entrance of the delivery event.

Inside the event venue, purple lights illuminate the showroom where Tesla silently awaits its unveiling, creating an atmosphere of mystery and fantasy.

Earlier, individuals, possibly fans or tech media, rode in Tesla vehicles and excitedly laughed, with many sharing their feelings by saying, "This is how I feel right now!"

Analysis: High price or unclear target audience, electric pickup trucks are no longer a competition-free blue ocean, mass production may face challenges

Previously, there were doubts about Tesla's target audience.

Some believe that besides Tesla employees, affluent tech enthusiasts and collectors may be the first buyers, while utility companies, construction firms, government fleets, as well as landscape designers, renovation teams, and small property owners, may find Tesla's gimmicky features too expensive or impractical.

For example, some companies prefer to purchase pickup trucks without cargo beds so that they can install specialized boxes or platforms that suit their needs, which is not possible with Tesla's integrated body design. Other companies purchase pickup trucks with standard cargo beds but often add accessories such as toolboxes or ladder racks, which are also not suitable for Tesla.

Regarding pricing, Tesla removed price information ranging from $40,000 to $70,000 for three different configurations from its official website as early as 2021.Recently, according to some buyers who have been contacted to confirm their orders, the cheapest model of Tesla is out of stock, but the high-end models are available, with a price close to $100,000, not including other fees and additional costs.

As mentioned by Wall Street News, Dan Ives, a senior analyst at Wedbush Securities and a well-known Tesla bull, stated that Tesla's costs are at least $10,000 higher than the initial target. The single-motor two-wheel drive version is priced at around $50,000, while the dual-motor and tri-motor all-wheel drive versions may be priced between $60,000 and $80,000. However, the cheaper models may not be manufactured in the first few years.

Currently, Tesla is facing external doubts about its production difficulties.

After showcasing the prototype in 2019, the production and delivery of this model have been continuously delayed, from 2021 to 2022, early 2023, and now November of this year.

During the earnings call in October, Tesla admitted that designing this model is like "digging its own grave" because the new technologies involved would increase manufacturing difficulties and make it difficult to scale up production. This may prevent the company from achieving the expected production efficiency before 2025 and pose a huge challenge to achieve mass production and positive cash flow for Tesla.

Furthermore, some analysts also pointed out that the battery production for this pickup truck is lagging behind. The pre-order deposit for Tesla was only $100, but it has now been increased to $250, which may indirectly indicate that the company is temporarily unable to meet all demands.

Previously, a leaked early Tesla design flaw report stated that this model may be prone to braking errors, steering failures, excessive noise during driving, and other issues. The unique integrated windshield wiper also has its shortcomings. A photo of a Tesla being detached from the road due to a blocked lane in San Francisco has also sparked discussions about parking difficulties.

Meanwhile, although Tesla's entry into the electric pickup truck market is profitable, the competition is fiercer than envisioned in 2019.

Other competitors' electric pickup trucks have already been on sale since the end of 2021, such as the R1T produced by "Tesla's rival" Rivian. Traditional giants are also unwilling to fall behind. Ford began selling the F-150 Lightning in 2022, and General Motors started limited sales of the electric version of the Chevrolet Silverado pickup truck this year. Stellantis will start production of the more powerful Ram 1500 Rev electric pickup truck next year.

Some analysts believe that it is no longer the "competition-free environment for electric pickup trucks" in 2019. Tesla's performance no longer appears as impressive as it did four years ago and is gradually being surpassed by its competitors.However, Wall Street is more concerned about whether Cyberruck can use the halo effect of the brand to boost Tesla's overall sales. That is, by introducing a new and cooler model to stimulate the sales of other older models. The halo effect is not uncommon in Tesla's history.

As the year-end approaches, Tesla may not have a significant impact on Tesla's overall sales. However, considering Wall Street's optimistic sales expectations for Tesla in 2024, investors may have confidence in Tesla's influence.