Deliveries begin for Tesla’s Cybertruck, starting at $60,990

As Tesla's first new model in nearly four years, the Cybertruck holds significant importance for the company's image as an innovator in the vehicle industry. This launch comes at a crucial time when Tesla is navigating a period of fluctuating demand for electric vehicles (EVs) and increasing competition.

The starting price of the Cybertruck is set at $60,990, a considerable increase from the $40,000 price point Musk mentioned in 2019. Analysts believe this pricing strategy will initially attract a more affluent customer base.

The design of the Cybertruck features a shiny stainless-steel body composed of flat planes with minimal curves. Musk has cited inspiration from the car-turned-submarine in the 1977 James Bond film ‘The Spy Who Loved Me’ for its design.

Musk drove a Cybertruck onto a stage in Austin, Texas, and later presented vehicles to about a dozen customers.

Musk expressed his vision for the truck, saying, “Finally, the future will look like the future,” and demonstrated the truck's capabilities by showing it tow a Porsche 911 and outpace another gasoline-powered 911 in a race.

While the vehicle's prices were not announced at the event, Tesla's website indicates that the ‘Cyberbeast’ variant and all-wheel-drive versions are expected to start at around $100,000 and $80,000, respectively, with availability slated for next year. The rear-wheel-drive version, starting at approximately $61,000, is scheduled for release in 2025.

Musk's initial timeline for the Cybertruck's delivery was ambitious, envisioning a production rate of roughly 250,000 units per year by 2025. However, Tesla has encountered substantial challenges in reaching volume production, attributed to the vehicle's novel technology and design.

The Cybertruck’s unique body material and futuristic styling pose production complexities and potential risks of alienating traditional pickup truck customers, who often prioritise utility.

Musk had previously suggested that Tesla might consider creating a more conventional truck design if the Cybertruck’s futuristic appearance did not resonate with consumers. However, in recent statements, he has underscored the model's innovative qualities.

The Cybertruck has already garnered substantial interest, with over a million reservation holders placing $100 deposits.