Elon Musk, CEO of Tesla Inc. (NASDAQ: TSLA), admitted on Thursday that his company’s next Cybertruck could “fail” because it is “so unlike anything else.”
What Happened: Musk went on to say that he doesn’t mind if the Cybertruck fails because he likes the pickup truck’s design, which is a break from the norm.
Tesla CEO Elon Musk made the remarks on Twitter in reaction to an op-ed titled “Tesla’s Cybertruck Will Be Company’s First Flop,” which suggested that the vehicle might not sell well.
In addition, Musk stated that the Cybertruck’s production design is “nearly exactly” the same as when it was first presented, adding that the vehicle will be devoid of door handles.
Also see: According to reports, Tesla has struck a $400 million camera deal with Samsung for the Cybertruck.
Why Does It Matter? The Cybertruck will be available by the end of 2021, according to Tesla. The much-anticipated vehicle was initially revealed in November 2019 and starts at $39,900 for the base variant.
Tesla’s in-house 4680 batteries will power the electric pickup, which is estimated to contribute around 5% of Tesla’s total sales volume in the first year after its launch.
Tesla’s stock fell 0.4 percent in normal trading on Thursday, closing at $650.60, before falling another 0.2 percent in after-hours trading to $649.08.
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