one of the most anticipated debuts Tesla Inc. TSLA And the electric vehicle industry as a whole cyber truck electric pickup truck. New details about the vehicle timeline were shared on Wednesday.
What happened: Tesla beat analyst estimates for fourth-quarter earnings and earnings per share on Wednesday’s earnings call.
Tesla shares rose Thursday after updates from analysts and comments made during the company’s conference call.
One of the highlights of the earnings call and conference call was the latest news that Cybertruck will begin production at Gigafactory Texas in mid-2023.
Tesla CEO Elon Musk We also shared an update during a company conference call.
“I expect production to start, I don’t know, maybe sometime this summer. I try to take it lightly, it’s going to be exponential, but it’s always very slow at the beginning, so I didn’t think much about the start of production, and it’s kind of like when mass production actually happens Yes, it will be next year,” Musk said.
Related link: Tesla bounces back from fourth-quarter earnings.
Important reasons: Since unveiling the Cybertruck in 2019, the vehicle has been one of Tesla’s most anticipated products of all time and one of the most hyped vehicles of all time.
The vehicle was previously given production targets for 2021 and 2022, but has been pushed back to 2023. Previous setbacks have raised questions about whether production will really start in 2023.
According to third-party estimates, Cybertruck has over 1 million bookings.
New comments from Musk and Tesla downplayed the Cybertruck launch. This could mean a limited number of models for sale in 2023.
Investor in Tesla and Managing Partner of Future Fund Gary Black Investors also predicted Tesla could deliver 1.9 million vehicles in 2023
Tesla’s guidance on Wednesday called for delivering 1.8 million vehicles in 2023, and some analysts thought the company could approach 2 million for the full year.
Investor Day is hosted by Tesla on March 1st. We can pinpoint how many Cybertruck units will be produced in 2023. Forecasts for more than 1,000 Cybertruck units may be overly optimistic at this point, and analysts may adjust vehicle estimates as a result.
TSLA Price Action: Tesla shares closed at $160.27 on Thursday, up 10.97% from a 52-week trading range of $101.81 to $384.29. Tesla shares are up 48% year-to-date, starting in 2023.
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Photo: Courtesy Tesla