Musk Admits Tesla Cybertruck Will NOT Cost Under $40,000

Electric Vehicles / 12 Comments

This revelation came at Tesla's Cyber Roundup event.

  • Cybertruck pricing and specs will change due to inflation
  • Production still targeted for mid-2023
  • Shareholders approve three-for-one stock split

Tesla's Cyber Roundup Annual Meeting of Stockholders took place last night and some interesting news was revealed during a Q&A session with CEO Elon Musk. While on the subject of the delayed Tesla Cybertruck, Musk confirmed that unanticipated inflation will drive up the starting price from the initially promised $39,900 number. And that's not the only detail subject to change.

"Cybertruck pricing, it was unveiled in 2019, and the reservation was $99. A lot has changed since then, so the specs and the pricing will be different," Musk said. "I hate to give sort of a little bit of bad news, but I think there's no way to sort of anticipate the inflation that we've seen and the various issues."

Cybertruck Owners Club

Tesla's original pre-order agreement for the Cybertruck specified that pricing would be subject to change, and given it's been three years nobody can be surprised at Musk's comments. As a reminder, the truck was originally priced at $39,900 for the Single Motor RWD version, $49,900 for Dual Motor AWD, and $69,900 for Tri-Motor AWD with deliveries starting in 2021. The company is now targeting mid-2023 for production.

Earlier this year, Tesla removed all mentions of pricing and took away the ability to configure the Cybertruck on its website. It's unclear how the final product's specs will differ from what was shown in 2019, but Musk promises, "the Cybertruck will be one hell of a product" and "a damn fine machine."

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Many early comparisons were drawn between Tesla Cybertruck and the Ford F-150 Lightning, but now it seems all of those speculative assumptions can be thrown out the window. With an MSRP of $39,974, the Lightning will almost certainly undercut Cybertruck on pricing, as will the upcoming Chevrolet Silverado EV with its $39,900 starting price.

Tesla promised a 2.9-second 0-60 mph time, a 500-mile range, and 250+ kW charging speeds. How many of these promised will be realized on the final product? It's impossible to say. We'll wait to see if Tesla meets its mid-2023 timeline for production and deliveries, but we wouldn't be shocked if the Cybertruck is pushed back yet again.

Tesla

In addition to the Cybertruck news, here are some other revelations from the Cyber Roundup:

  • Shareholders approved the three-for-one stock split but voted against better reporting for sexual, racial, and gender harassment complaints.
  • Tesla will reach two million cars per year production by the end of 2022.
  • A new Gigafactory location will be announced later this year.
  • Non-Tesla vehicles will be able to use the Supercharger network.
  • Musk once again promised widespread FSD beta deployment in North America this year.

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