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Tesla adds Cybertruck shift before line makes way for Cybercab
Elon Musk said Tesla will add a production shift to try to clear its Cybertruck backlog before the line closes next year. The carmaker is moving resources to its Cybercab robotaxi.
Quick Read
- Elon Musk said in a post on X that Tesla will add an extra shift to try to fill all Cybertruck orders before the line closes.
- Musk said the line comes down around June or July next year, with resources moving to the Cybercab robotaxi, Reuters reported.
- Tesla shares rose 4.2% on Friday but remain well below their 52-week high.
- Investors Ross Gerber and Gary Black criticized the Cybertruck wind-down in posts on X.
What did Musk say about the Cybertruck?
Tesla (Nasdaq: TSLA) will add an extra production shift to work through its Cybertruck order backlog, CEO Elon Musk said Saturday in a post on X.
Why it matters: He said the backlog is larger than Tesla can build before the line comes down around June or July next year. "We will add an extra shift to try to get all orders done in time," Musk wrote.
Why is the Cybertruck line closing?
A day earlier, Musk said Tesla would wind down Cybertruck production at its Texas factory and move resources to the Cybercab, Reuters reported. The Cybercab is a small driverless taxi.
The robotaxi is central to Musk's plan to turn Tesla from a carmaker into a company built around AI and robotics.
The stainless steel pickup has run well short of Musk's early sales hopes. It has also faced repeated recalls and quality complaints, and its unusual design limited its prospects in markets such as Europe.
How did Tesla stock react?
Tesla shares rose 4.2% on Friday to close at $358.22, adding $57 billion in market value. On $100,000 held in Tesla shares, the day added $4,230.
The gain followed a Thursday selloff after Democrats won Texas races for Senate, governor and attorney general. Tesla and SpaceX are both based in the state.
Even after Friday, the shares sit 26.9% below their 52-week high of $489.88, the highest price of the past year.
What are critics saying, and what comes next?
What’s next: Investor Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management, called the wind-down a failure in a post on X. Investor Gary Black wrote on X that Tesla missed a chance by not building a more conventional-looking pickup.
The next marker is the line's planned end, which Musk put around June or July next year. The open question is how much of the backlog the extra shift can fill before then.
For readers
What it could mean for you: This story matters most for people who have ordered a Cybertruck and are still waiting for delivery. Musk said the backlog is larger than Tesla can build before the line closes, and the extra shift is meant to try to fill every order in time. If the shift falls short, some buyers could see orders go unfilled when production ends around June or July next year. People hoping to buy a new Cybertruck later may also find it harder once the line comes down.
Questions and answers
When will Tesla stop making the Cybertruck?
Elon Musk said in a post on X that the Cybertruck line comes down around June or July next year. Tesla is adding an extra shift to try to finish outstanding orders before then.
Why is Tesla ending Cybertruck production?
Musk said Tesla would wind down Cybertruck production in Texas and move resources to the Cybercab robotaxi, Reuters reported. The robotaxi is central to Musk's plan to refocus Tesla on AI and robotics.
Will all Cybertruck orders be filled?
Musk said the backlog is larger than Tesla can build before the line closes. He said the extra shift is an attempt to get all orders done in time, not a promise that it will.
What is the Tesla Cybercab?
The Cybercab is a small driverless taxi. Musk said Tesla is closing the Cybertruck line to move resources to it, Reuters reported.
The numbers
| Tesla (TSLA) price | $358.22 |
|---|---|
| Tesla (TSLA) change | +4.23% |
| Tesla (TSLA) market value | $1.4 trillion |
| Tesla (TSLA) 52-week high | $489.88 |
| S&P 500 change | +0.31% |
| 10-year Treasury yield | 4.86% |
Friday’s close
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