End of the road for Cybertruck: Tesla to stop production of Musk's electric pickup

Tesla will gradually halt production of the Cybertruck at its Texas plant by mid-next year, Elon Musk announced in a post on X, amid weak sales and repeated recalls. The company will focus on ramping up production of the autonomous "Cybercab" taxi. According to Cox Automotive, Tesla sold 11,586 Cybertrucks in the first nine months of the year, a 28% drop from the previous year.

Tesla plans to gradually cease production of the Cybertruck at its Texas plant by mid-next year, as announced by Elon Musk in a post on X. According to the announcement, the company will redirect resources to increase production of the autonomous "Cybercab" taxi. Wes Morrill, who served as the chief vehicle engineer, confirmed the news on social media and said the Cybertruck "was an exceptional technological development platform, and it will continue to live on through the Cybercab." The Cybertruck was first unveiled in 2019 and launched in 2023. Musk originally presented it as a "futuristic combat tank" and claimed Tesla would aim for production of 250,000 to 500,000 units per year. In reality, according to estimates by Cox Automotive, Tesla sold only 11,586 vehicles in the first nine months of the year, a 28% decline from the previous year. The product is considered one of Musk's biggest failures and faced multiple recalls and safety issues. One of the largest buyers of the vehicles was SpaceX, also owned by Musk, and the two companies are considering a merger. Tesla has not completely withdrawn from the truck market: in April it began production of an electric semi-trailer truck, in an attempt to capitalize on rising fuel prices following the war in Iran. Musk said the company will focus on sales of humanoid robots, autonomous taxis, and semi-trailers amid growing competition from Chinese rivals. Tesla's stock has fallen about 15% since the Democrats' victory on Tuesday in the midterm elections, even though Musk donated more than $200 million to Republican candidates.