Elon Musk says Tesla will launch its long-awaited Cybertruck next year, Business & Economy News

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Chief Executive Elon Musk has said that Tesla will launch its long-awaited Cybertruck next year.

With a starting price of $39,000, the Cybertruck resembles an armoured vehicle. It will take aim at the heart of Detroit automakers’ profitable truck business.

The electric carmaker will also make a “dedicated” self-driving taxi that will “look futuristic,” Musk said.

“Massive scale. Full self-driving. There’s going to be a dedicated robotaxi,” he added. 

“We are also going to make sure it’s safe, no ‘Terminator’ stuff,” he quipped, referring to the hit action film about a killer cyborg.

According to Musk, Tesla “has a shot” at beginning production of its Optimus humanoid robot in Austin next year.

The company will expand its “Full Self-Driving” beta software to all North American FSD subscribers this year. The advanced driver assistance systems currently cost $12,000. It has been installed in nearly 60,000 vehicles in the United States.

Also read | With $2.9bn Twitter stake, Musk now owns 4 times more shares than founder Dorsey, stock soars 21%

Tesla demand is outstripping supply to the point that some Model Y and 3 cars are being delivered months late in parts of the world, as per Wedbush analyst Dan Ives.

Pickup trucks are a hot item in the United States, and having a winning electric model is seen as key in the market.

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In 2018, Musk and Tesla agreed to pay $40 million in civil fines and for Musk to have his tweets approved by a corporate lawyer.  It happened after he tweeted about having the money to take Tesla private at $420 per share, which did not happen but caused Tesla’s stock price to jump. 

His lawyer has contended that the SEC is infringing on Musk’s free speech rights.

The South African-born serial entrepreneur is now ranked the world’s richest man. He founded Tesla in Silicon Valley in 2003, but shifted its headquarters to Texas late last year.

(With inputs from agencies)

 



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