Tesla to refund many Cybertruck deposits as demand exceeds production, Musk says

Tesla will refund deposits for numerous Cybertruck customers as demand outpaces production, CEO Elon Musk announced on X. The electric vehicle manufacturer is ceasing production of the pickup truck at its Texas plant in about eight months, but will aim to fulfill as many deposits as possible before shutting down the line, Musk said in a post on Monday.

This comes after Musk revealed Tesla would increase production shifts to meet outstanding Cybertruck orders before dismantling the production line to focus on its Cybercab robotaxi, which aligns with the automaker's autonomous-driving ambitions. The production winding down is planned for mid-2027, with resources redirected to the Cybercab.

Cybertruck deliveries began in late 2023, but sales fell 48% to 20,237 units in 2023, far below Musk's earlier projection of 250,000 annual sales.