Photo: Tesla
Tesla’s long-awaited Cybertruck is expected to roll off the assembly line at Giga Austin by the end of this year. Analysts and investors are optimistic, with one Tesla bull predicting the electric pickup truck would register 10,000 deliveries by the end of the year.
Tesla introduced the Cybertruck to the public in November 2019 with a bang, promising the production version would arrive two years later, in 2021. In a typical Tesla fashion, the outlandish pickup truck’s production was rescheduled for late 2022, early 2023, and then late 2023. Unlike previous estimates, this time, the prediction looks to be accurate. Elon Musk’s promises should be taken with a grain of salt, but other people with knowledge of the matter also confirmed that the Cybertruck would arrive in 2023.
Recently, Tesla’s chief designer Franz von Holzhausen reiterated that the electric pickup truck would enter production as planned by the end of the year. He also confirmed that the design had been frozen, with some interesting details thrown in the mix to keep us entertained until production starts. To further confirm that Cybertruck production is on track, the Giga Austin saw a frantic overhaul, installing IDRA’s famous Giga Presses to produce Cybertruck’s megacastings.
Overall, this information and the recent price cuts have substantially brightened Tesla’s prospects and energized Tesla investors and analysts alike. The Future Fund managing partner Gary Black has told The Street that he believes Tesla will indeed start deliveries in late 2023. The production is expected to ramp up quickly, and Black estimates that Tesla would be able to deliver around 10,000 Cybertrucks by the end of the year. Wall Street veteran claims this number will propel Tesla’s overall deliveries in the year to more than 1.9 million.
Like many Tesla investors, Black is also appalled by how Elon Musk’s hectic behavior affected Tesla stock. Tesla makes up more than 9% of Black’s Future Fund Active ETF, so the investors would “love to see the board respond to what has happened to the stock.” If you haven’t been living under a rock, Tesla shares lost more than 60% compared to January 2021, before Musk announced his intention to buy Twitter.
Tesla produced roughly $9 billion in free cash flow in 2022, and Black would like Tesla to use part of it to buy back company shares. Nevertheless, Tesla would likely use the money to build new gigafactories. Tesla is already in talks with governments and private parties from Canada, Indonesia, South Korea, and Mexico to build gigafactories there. India was also interested but was not willing to offer Tesla any subsidies. Tesla will need ten gigafactories with an annual production of 1 million vehicles if it wants to achieve its goal of 10 million vehicle production capacity by 2030.
Recently, Tesla’s chief designer Franz von Holzhausen reiterated that the electric pickup truck would enter production as planned by the end of the year. He also confirmed that the design had been frozen, with some interesting details thrown in the mix to keep us entertained until production starts. To further confirm that Cybertruck production is on track, the Giga Austin saw a frantic overhaul, installing IDRA’s famous Giga Presses to produce Cybertruck’s megacastings.
Overall, this information and the recent price cuts have substantially brightened Tesla’s prospects and energized Tesla investors and analysts alike. The Future Fund managing partner Gary Black has told The Street that he believes Tesla will indeed start deliveries in late 2023. The production is expected to ramp up quickly, and Black estimates that Tesla would be able to deliver around 10,000 Cybertrucks by the end of the year. Wall Street veteran claims this number will propel Tesla’s overall deliveries in the year to more than 1.9 million.
Like many Tesla investors, Black is also appalled by how Elon Musk’s hectic behavior affected Tesla stock. Tesla makes up more than 9% of Black’s Future Fund Active ETF, so the investors would “love to see the board respond to what has happened to the stock.” If you haven’t been living under a rock, Tesla shares lost more than 60% compared to January 2021, before Musk announced his intention to buy Twitter.
Tesla produced roughly $9 billion in free cash flow in 2022, and Black would like Tesla to use part of it to buy back company shares. Nevertheless, Tesla would likely use the money to build new gigafactories. Tesla is already in talks with governments and private parties from Canada, Indonesia, South Korea, and Mexico to build gigafactories there. India was also interested but was not willing to offer Tesla any subsidies. Tesla will need ten gigafactories with an annual production of 1 million vehicles if it wants to achieve its goal of 10 million vehicle production capacity by 2030.
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