Tesla (NASDAQ:TSLA) stock is a hot topic on Tuesday after Reuters released a report about the company’s upcoming Cybertruck.
Let’s get into those details below!
- Reuters spoke with insiders about Tesla’s plans for the Cybertruck.
- According to them, Musk is preparing to start mass production of the electric vehicle (EV) by the end of next year.
- This aligns with reports that Tesla’s Austin, Texas plant is preparing to produce the EV.
- Tesla has been dealing with delays throughout the pandemic that have kept the Cybertruck from meeting its initial 2021 production date.
- While the electric truck was shown off back in 2019, customers still don’t know some of the finer details, such as the price.
- Customers may be waiting even longer for their Cybertruck deliveries.
- Based on the latest report, the Cybertruck wouldn’t start being delivered to customers until 2024.
- Musk previously noted the company had enough preorders that it wouldn’t be able to meet them even three years after production starts.
- If that holds true, it means some customers may not get theirs for another five years.
- While that’s some time to wait, Tesla has harvested a loyal consumer base over the years that will likely hold out for the Cybertruck.
- Now investors in TSLA stock just have to wait and see just how much of a win the EV will be for the company.
TSLA stock is up slightly as of Tuesday morning.
Investors can check out all of the latest stock market news at the following links!
We’ve got everything traders need to know about the stock market today! Among that is what has shares of Chinese EV stocks, Alibaba (NYSE:BABA) and Nio (NYSE:NIO) stock on the move today. You can find out more on these matters below!
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- NIO Stock Heats Up on October Deliveries Update
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.