Tesla delays initial production of Cybertruck to early 2023 - source

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Tesla Inc (TSLA.O) goals to start out initial production of its long-awaited Cybertruck by the top of the first quarter of 2023, pushing plans to start out production later this yr, an individual accustomed to the matter advised Reuters on Thursday.

He stated the delay comes when Tesla modifications the options and features of the electrical pickup to make it a compelling product as competition heats up in the phase.

Tesla is predicted to supply a restricted production of the Cybertruck within the first quarter of 2023 earlier than ramping up production, the source stated.

Tesla didn't instantly respond to a request for remark. Tesla, the world's largest electrical automotive maker, produces electric sedans and SUVs, but has misplaced the pickup truck phase, which is profitable and massively fashionable in America.

& Ford Motor Co (FN) and Rivian Automotive (RIVN.O). are ahead of Tesla in launching electrical pickups.&

Ford stated early this month it should almost double annual production capacity for its red-hot F-150 Lightning electrical pickup to 150,000 automobiles forward of its arrival this spring at U.S. dealers.

Ford's market worth topped $ 100 billion for the primary time on Thursday, when Tesla shares fell 6.7% and Rivian's shares fell 7.1%.

CEO Elon Musk, who unveiled the futuristic car in 2019, had already delayed& production from late 2021 to late 2022.&

Musk stated he would offer an up to date product roadmap in the course of the earnings name for the Tesla on January 26.

“Oh man, this yr has been such a nightmare for the availability chain& and it isn't over yet!” He tweeted in late November when requested concerning the Cybertruck.&

Tesla just lately removed a reference to its production schedule from its Cybertruck orders website. Last month, the web site stated, "It is possible for you to to finish your setup as manufacturing nears in 2022." Now "in 2022" has been omitted.

Tesla plans to supply the Cybertruck at its plant in Texas, which is slated to begin production of Model Y automobiles earlier this yr.

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