Billionaire Elon Musk’s cheapest Cyber Truck produced by Tesla will cost nothing less than $60,990 a report by Bloomberg has said.
This is coming after the electric car company overcame a two-year saga of delays and production hurdles, Tesla Inc. has ceremoniously presented the inaugural Blade Runner-inspired Cybertrucks to customers.
Based on reports during an event at Tesla’s Austin headquarters, CEO Elon Musk personally handed over a select few vehicles, including one to Reddit co-founder Alexis Ohanian. The unveiling unfolded through a live-streamed spectacle on X, Musk’s proprietary social media platform.
Available in three configurations—rear-wheel drive, all-wheel drive, and the ostentatiously named Cyberbeast—the entry-level Cybertruck comes with a price tag of $60,990.
This figure, however, surpasses Elon Musk’s initial 2019 estimate by more than 50%, according to reports. Notably, the most economical variant, a rear-wheel drive model with a 250-mile battery range, is slated for release in 2025. Meanwhile, delivery for the pricier models, including the nearly $100,000 Cyberbeast, is expected next year.
Gene Munster, Managing Partner at Deepwater Asset Management, expressed surprise at the higher-than-anticipated cost, emphasizing the imperative for Tesla to scale up production to mitigate pricing concerns. Acknowledging the challenges ahead, he remarked, “The reality is that the Cybertruck isn’t really out yet.”
Tesla’s foray into the fiercely contested U.S. pickup truck market with the Cybertruck has garnered both enthusiasm and skepticism. Some critics, including analyst, have questioned the vehicle’s profitability, suggesting its cancellation. Elon Musk himself acknowledged the daunting production complexities, describing the process as “insanely difficult.”
Musk, addressing the price differential, emphasized the truck’s utility, stating, “It’s an incredibly useful truck. It’s not just a grandstanding showpiece—like me.”
Originally marketed in 2019 with starting prices ranging from $39,900 to $69,900, the Cybertruck’s current pricing landscape is nuanced. Tesla’s website outlines “probable savings,” incorporating federal tax credits and estimated gas savings over three years.
Factoring in these considerations, the company estimates the cheapest version’s cost to be $49,890. Elon Musk, unwavering in his confidence, asserted that the Cybertruck is tailored to meet diverse buyer needs, whether for its style or utility. In his words, it is “a better truck than a truck while also being a better sports car than a sports car.”
The Cybertruck’s performance credentials include a rapid acceleration of 2.6 seconds from 0 to 60 miles per hour, comparable to a Porsche 911 Turbo S. Additionally, it boasts a towing capacity of up to 11,000 pounds, surpassing the battery-powered Ford F-150 Lightning and certain gas-fueled F-150 models. With a 17-inch ground clearance, it outstrips all versions of the F-150 and the electric Rivian R1T pickup.
However, the Cybertruck’s entry-level price places it several thousand dollars above the commercial-grade electric F-150, starting at $49,995, and the base retail model at $54,995.