Tesla ends Cybertruck run soon

Elon Musk announced on Monday that Tesla will refund deposits to a large number of Cybertruck customers. The decision comes as the company prepares to halt production of the electric pickup truck.

Musk stated that the order rate for the vehicle currently exceeds Tesla's ability to build it. He explained the company intends to manufacture as many units as possible before stopping the assembly line in approximately eight months. Because of this gap, he wrote that deposits must be returned to many buyers.

The CEO previously revealed last week that the Texas factory will stop making Cybertrucks by mid-2027. This move is designed to create space for increased production of the Cybercab, Tesla's robotaxi. Musk said the opportunity cost of the Cybertruck's complexity is outweighed by the value of adding Cybercab units.

Musk disputed the idea that the model is being dropped due to poor profitability. Instead, he focused on the strategic shift toward autonomous vehicles. On Saturday, he posted that the Cybertruck would remain in production for another eight to nine months before the company shifts focus entirely to scaling the Cybercab.

Wall Street analyst Dan Ives of Yorkville Ives & Co. noted that high prices and low demand made the end of production predictable. He added that the change allows Musk to concentrate resources on robotics and robotaxis. Tesla first introduced the Cybertruck in 2019 with a starting price of $69,000.