SAN FRANCISCO, Jan 13 – Tesla Inc (TSLA.O) intends to begin the much-anticipated production of Cybertruck by the end of the first quarter of 2023, postponing its first production plan later this year, man. A source close to the matter told on Thursday.
The man said the delay comes as Tesla changes the features and functions of the electric pickup to make a compelling product as the competition heats up in the segment.
Tesla is expected to make limited production of Cybertruck in the first half of 2023 before increasing production, the source said.
Tesla did not immediately respond to a request for comment.
Tesla, the world’s leading electric car manufacturer, manufactures electric sedans and sports cars but misses out on the trucking section, the most profitable and most popular in America.
Ford Motor Co (F.N) and Rivian Automotive (RIVN.O) are ahead of Tesla in launching electric pickups.
Ford said earlier this month it would almost double the annual production capacity of its red-hot F-150 Lightning electric car to 150,000 vehicles before its arrival this spring for American retailers.
Ford market price broke $ 100 billion for the first time on Thursday when Tesla shares fell 6.7% and Rivian fell 7.1%. Learn more