Please Read Our Disclaimer

Elon Musk Drops Bad News For Cybertruck Enthusiasts And Investors May Not Like It

It has been a long time since Tesla fans have been faced with a test of their loyalty, and it is because of the ‘Cybertruck’. The long-awaited Cybertruck is still on the minds of many EV enthusiasts, as they have been wanting to get their hands on it.

Unfortunately, Elon Musk keeps dropping one bad news after another on the Cybertruck fans.

Another Year added to Cybertruck’s Launch

The first time Cybertruck was mentioned by Elon Musk was back in 2019. Following the first announcement, the deliveries for the Cybertruck have been delayed even in 2022.

The fans have been told that they will need to wait for another year before the Cybertruck deliveries start happening.

To the shock of the fans, the delay in deliveries is not the only bomb Elon Musk has recently dropped on the Cybertruck fans. The recent announcement by Elon Musk has left many enthusiasts filled with disappointment.

Elon Musk Spoke to Shareholders

On August 4, Elon Musk became part of Tesla’s annual meeting with the shareholders.

Elon Musk stated that apart from the delay, the pricing and the specs for the Cybertruck would be different. While mentioning the changes in pricing and specs, Elon Musk admitted that it was bad news for the Cybertruck lovers.

Reservations for Cybertruck

In 2019, Tesla announced that Cybertruck fans could make reservations for the truck for $99. Tesla had announced that the pricing for the base model would be $39,900.

Elon Musk explained that so many things and changes have taken place ever since they first made the announcement in 2019. Musk had explained the details to the audience at the new gigafactory that has been opened in Austin, Texas.

The reason behind the Delays and Price Hikes

Elon Musk mentioned two major reasons behind the constant delays in the deliveries of Cybertrucks.

Musk explained that the year 2020 and 2021 were badly impacted by the supply chain deficiencies. The supply shortage for semiconductors has also delayed the manufacturing processes for Cybertrucks.

Tesla is not the only electric vehicle (EV) company that has been complaining about the shortage of semiconductors. Almost every EV manufacturing company has complained about the semiconductors shortage ever since the pandemic began.

Then there is a hike in the interest plus the inflation rates that have increased the pricing of manufacturing supplies. He added that due to the hike in the inflation rates, they had to increase the pricing for the Cybertrucks.

Elon Musk stated that although the Cybertruck is taking too long to be delivered, it will prove to be one “hell of a truck” for the enthusiasts.

Since the announcement, the share prices for Tesla have dipped 6.63% in the recent stock market trading session.

Leave a Comment