Tesla has announced that it will begin delivering the long-awaited Cybertruck to select customers starting on November 30. This comes after years of delays and redesigns for the luxury EV SUV.
The vehicle’s electrical architecture is also being redesigned to accommodate an 800-volt standard, which is utilized by many other luxury and heavy-duty EV models. This upgrade will allow for faster charging times without compromising the vehicle’s wiring harness.
Elon Musk, CEO of Tesla, expressed his excitement for the Cybertruck during an investor call, stating that it is an amazing product. However, he also acknowledged that there will be challenges in reaching volume production and making the vehicle cash flow positive.
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Musk emphasized that the Cybertruck is a unique and advanced vehicle that requires extensive work to meet production goals and be affordable for consumers.
Tesla’s production and deliveries for its existing model lines have decreased this quarter, but they remain significantly higher compared to the previous year.
The company has been reducing prices on its vehicles throughout the year to increase sales volume. This strategy has resulted in a decrease in the cost of goods sold per vehicle in Q3.
In addition to its focus on vehicle production, Tesla is also investing heavily in AI development. The company has doubled the amount of processing power dedicated to training its vehicular and Optimus robot AI systems.
The Optimus itself is receiving hardware upgrades and being trained via AI, which allows for more advanced capabilities.
Furthermore, Tesla has announced a partnership with Hertz, providing all US and Canadian Hertz rentals with access to the Tesla App. This feature allows renters to use their phones as key fobs and apply their existing Tesla profiles to their rental vehicles.
