Tesla to refund many Cybertruck deposits: Musk
Tesla is winding down the pickup truck's production at its Texas factory.
Tesla's CEO Elon Musk has announced that the company will be refunding deposits for many Cybertruck customers, as orders for the electric vehicle far exceed the production capacity at its Texas factory. Musk made the announcement on X, following the company's decision to wind down Cybertruck production in about eight months. However, Musk stated that they will try to fulfill as many orders as possible before shutting down the line.
The production wind-down is planned for mid-2027, with resources being redirected to the Cybercab, a vehicle crucial for Tesla's autonomous-driving ambitions. Tesla launched the Cybertruck in late 2023, but sales have significantly fallen short of Musk's expectations. In 2023, US sales of the Cybertruck fell 48% to 20,237 units, according to Kelley Blue Book, much lower than Musk's earlier projection of 250,000 annual sales.
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