Tesla To Deliver Foundation Series Cybertrucks Through Late 2024 Due To 'Continued High Demand,' Contrary To Elon Musk's June Prediction

Author: Anan Ashraf | July 02, 2024 05:24am

EV giant Tesla Inc (NASDAQ:TSLA) has seemingly extended the timeline for delivering its Foundation series Cybertrucks, despite CEO Elon Musk‘s word in June that it would end “soon.”

What Happened: As per screenshots of correspondence sent by Tesla to Cybertruck reservation holders and shared on social media platform X, the company intends to deliver only the Foundation series Cybertruck through late 2024.

“Due to continued high demand, we expect to deliver only the Foundation Series through late 2024,” the mail read.

So, I just checked my email and I can order my Cybertruck. Got a problem though. I preordered mine about a little less than a year ago. I was under the impression it would be a minimum of two years after production started that I would be eligible to order.

I always create a… pic.twitter.com/yIFKgegO6W
— S.E. Robinson, Jr. (@SERobinsonJr) June 29, 2024

The Foundation series refers to the first few Cybertrucks manufactured by the company. During Tesla’s annual shareholder meeting in June, Musk said the company will the production of the foundation series Cybertruck soon and start shipping non-foundation series Cybertruck starting the next quarter. The CEO, however, did not give a particular number of how many foundation series vehicles the company intends to manufacture.

Benzinga has reached out to Tesla for a statement, we will update the story as soon as we receive a response.

Why It Matters: The Tesla Cybertruck is the latest offering from the EV giant. The company started delivering the vehicle in late November. It is unclear as to how many Cybertrucks have been delivered thus far, as the company does not provide model-wise delivery numbers.

During Tesla’s annual shareholder meeting in early June, Musk said that the company has touched a weekly production record of 1,300 Cybertrucks. The company is now ramping production further to touch 2,500 units per week by the end of the year with the aim to deliver 250,000 Cybertrucks a year starting in 2025.

The vehicle pricing currently starts at $79,990 for the all-wheel drive version and $99,990 for the more premium Cyberbeast version.

A lower-priced rear-wheel drive version of the truck will be available in 2025, as per the company website, starting at $60,990.

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