Musk Hands Over Cybertruck to Customers as Cheapest Will Cost $60,990

Tesla Chief Executive Officer Elon Musk delivered a handful of Cybertrucks on Thursday to owners including Reddit co-founder Alexis Ohanian.

The automaker provided a long-awaited update on pricing and specifications, estimating the base version will cost $60,990, up more than 50% from the cheapest option floated four years ago. It won’t be available until 2025.

Tesla is taking reservations for that vehicle and two configurations that it will deliver next year, which cost an estimated $79,990 and $99,990.

The version offering the most battery range will go about 340 miles on a charge, well short of the more than 500 miles the company touted four years ago.

First Cybertruck deliveries in 2 hours! https://t.co/IY2bzUKbUI

— Elon Musk (@elonmusk) November 30, 2023

Tesla shares fell as much as 2.1% before the start of regular trading Friday. The stock climbed almost 20% last month in anticipation of the event, which was live-streamed on X, the social media platform Musk owns.

The Cybertruck marks Tesla’s entry into the lucrative and highly competitive pickup market in the US, a move that’s been met with a mix of excitement, criticism and doubt.

The CEO mostly focused on the merits of the Cybertruck during the delivery event, in contrast to his emphasis on manufacturing challenges during Tesla’s last earnings call. He did say that part of the reason for the pickup’s angular shape is that its stainless-steel body panels can’t be stamped, claiming they would break stamping machines.

Tesla claimed the Cybertruck will reach 60 miles per hour in as little as 2.6 seconds, and showed a video of the pickup crossing a quarter mile quicker than a Porsche 911 — while also pulling one of the sports cars on a trailer.

The company said the pickup can tow up to 11,000 pounds, more than a battery-powered Ford F-150 Lightning and some gas-powered F-150 models. The Cybertruck also boasts 17 inches of ground clearance, more than all versions of the F-150 and the electric Rivian R1T pickup.

“It’s basically an incredibly useful truck,” Musk said. “It’s not just some grandstanding showpiece, like me.”

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