Topics
late
AI
Amazon
Apps
Biotech & Health
Climate
Cloud Computing
Commerce Department
Crypto
Enterprise
EVs
Fintech
Fundraising
gismo
Gaming
Government & Policy
Hardware
Layoffs
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
certificate
Social
outer space
Startups
TikTok
Transportation
Venture
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
newssheet
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
get hold of Us
Tesla has finally go under a escort for the first pitch of the Cybertruck . chief executive officer Elon Muskposted on social mediaWednesday that the Cybertruck delivery effect , which traditionally means a few select customers get to take will power of their vehicles , will be held November 30 at the companionship ’s Austin gigafactory .
The word of the rescue event comes on the same day that Tesla reported its third - quarter earnings , event that showed a44 % drop in profitsfrom the same menses last class .
Notably , the Cybertruck delivery date was n’t included in the earnings report . The report did let in a note that fender production of the Cybertruck has bug out at Giga Texas , the society ’s factory near Austin , Texas . Tesla also said the Cybertruck “ remains on track for initial rescue this year . ”
Tesla had promised to deliver the Cybertruck to customers in the summertime of 2023 , and then later , in the third quarter . Both of those deadlines came and run .
Tesla has n’t shared how many Cybertrucks it will put into customers ’ hands during the delivery event . yield of the vehicle is expected to ramp in 2024 . According to the Q3 earnings reputation , the gigafactory will have mental ability to get less than 125,000 Cybertrucks once it reaches mass production , a telephone number that Musk say Tesla should hit in 2025 .
And based on Tesla ’s equaliser sheet , it come out the ship’s company is pouring money into Cybertruck production . The EV maker ’s operating expenses increased 43 % class - over - year to $ 2.4 billion , due in part to Cybertruck .
“ I do need to emphasize that there will be enormous challenge in reaching volume yield with the Cybertruck , ” said Musk during Wednesday ’s profits call , noting that it will take about 18 months until the Cybertruck is hard cash - flow positive .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
“ I recall it is our good product ever . It is extend to require vast work to make volume production and be cashflow positive at a price that mass can afford , ” keep on the executive .
“ If you want to do something revolutionary and innovative and something really peculiar like the Cybertruck , it is extremely unmanageable because there ’s nothing to copy . You have to invent not just the automobile , but the way to make the cable car . So the more uncharted the dominion , the less predictable the outcome . ”
Tesla also said it increase disbursal on AI development as the company works to get itsDojo supercomputerup and running . Dojo is design to train Tesla ’s neural networks to elevate the carmaker ’s ego - driving capabilities , as well as its humanoid robot Optimus .
This article has been updated with statements from Elon Musk on the profitableness of Cybertruck .
Tesla ’s margins remind us that it ’s an automaker , not a technical school company
