Tesla will dismantle its Cybertruck assembly line around June or July next year after a brief manufacturing ramp-up to fulfill remaining customer backlogs. The retreat comes as deliveries reached only about 11,600 units through September, falling dramatically short of the original 250,000 annual vehicle target. To bolster figures last year, SpaceX bought $131 million worth of the trucks at list price. Other legacy automakers face similar challenges, prompting competitors to abandon or retool their large electric truck platforms.
Key points
Full-size electric pickups continue to falter due to massive battery manufacturing costs…: Full-size electric pickups continue to falter due to massive battery manufacturing costs and degraded towing capabilities.
Automakers like Ford and Stellantis are ditching direct full-size EV pickups for smaller…: Automakers like Ford and Stellantis are ditching direct full-size EV pickups for smaller platforms or extended-range hybrid options.
The Cybertruck's discontinuation highlights the substantial gap between initial delivery…: The Cybertruck's discontinuation highlights the substantial gap between initial delivery projections and actual retail demand.
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Tesla Cybertruck is EV pickup market's latest casualty
Nov 10 : Tesla’s move to discontinue its Cybertruck next year is perhaps the highest-profile flameout in a category that automakers had once hyped: huge electric pickups.
Tesla CEO Elon Musk said in a social media post on Saturday that the automaker would ramp up Cybertruck production at its Austin, Texas, factory to meet an "order backlog” before dismantling the assembly line around June or July. He said the wind-down would allow Tesla to produce more Cybercab robotaxis, which have yet to be sold commercially.
But sales of Tesla’s stainless-steel, angular truck — once described by MotorTrend magazine as having a “stealth-bomber-refrigerator design theme” — sagged 28 per cent this year through September, to about 11,600 trucks, according to an estimate from research firm Motor Intelligence.
That sales pace is far off the 250,000-truck annual level Musk once predicted. Musk's other big company, SpaceX, also bought Cybertrucks worth $131 million from Tesla at list price last year, according to a federal regulatory filing.
Corporate governance experts are closely examining the internal dynamics of the semiconductor giant's leadership structure during an unprecedented market boom. The scrutiny focuses on whether longstanding personal relationships among directors could compromise independent oversight as the company's valuation surges. Ensuring rigorous governance is critical for stakeholders who rely on objective decision-making amid escalating industry competition.
Automakers are continuing to face severe challenges within the electric pickup segment as another prominent vehicle struggles to gain sustainable momentum. The sector has suffered a string of setbacks that highlight persistent difficulties for manufacturers producing battery-powered utility models. These struggles signal ongoing broader headwinds impacting commercial viability across the entire market category.
Internal deliberations concerning future leadership at the chipmaker have spanned multiple years without producing a clear transition roadmap. Corporate governance questions surround the chief executive, who maintains deep personal connections with a substantial portion of the governing body. These dynamics illustrate how deeply entrenched current management remains at the helm of the organization.