Tesla remains the most powerful player in the electric vehicle space, but investors are getting antsy as they await new EVs from the company.Sales of its Models 3 and Y crossover remain strong, but the long-awaited Cybertruck still hasn't been released — and a cheaper EV looks far off.
That facility is expected to make what analysts have called the Model 2, Tesla's most affordable vehicle yet. Slow-walking the Mexico factory "appears inconsistent with Musk's repeated commentary that affordability is currently Tesla's biggest challenge," Bernstein analyst A.M. Sacconaghi Jr. wrote Thursday in a research note.to provide a timeline on when the Model 2 would arrive, but he acknowledged that it won't have all the Cybertruck's bells and whistles.
"It will be cool, but it's utilitarian," Musk said, adding that it won't "fill you with awe and magic" but "it can get you from A to B."But the Cybertruck is expected to serve a niche audience, and Musk said the company won't reach full production capacity on the vehicle until 2025. "I do want to emphasize that there will be enormous challenges in reaching volume production with the Cybertruck and then in making the Cybertruck cash flow positive," Musk said, though he added that "demand is off the charts."To ramp up to similar sales as the world's biggest automakers, Tesla will need more model types for a buying public that's used to a wide variety of choices, including large SUVs and more conventional pickups.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: AP - 🏆 728. / 51 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Elon Musk: 'We Dug Our Own Grave With Tesla Cybertruck,' Which Finally Arrives in NovemberThe long-awaited Tesla Cybertruck electric pickup will reach customers nearly four years after its debut, as CEO admits the truck is hard to build.
Source: MotorTrend - 🏆 230. / 63 Read more »