Musk says Tesla will refund some Cybertruck deposits, defends decision to end production
Elon Musk announced that Tesla will cease production of the Cybertruck in eight months to prioritize the manufacturing of Cybercab robotaxis. The company will issue refunds for some existing deposits as it shifts resources.
Why it matters
This decision marks a significant pivot in Tesla's product strategy, moving away from a high-profile consumer vehicle to focus on autonomous transport infrastructure.
Tesla CEO Elon Musk is defending the Cybertruck and the company’s decision to stop producing the polarizing steel-clad truck, claiming that the order rate far exceeds its production.
Tesla will shut down production of the Cybertruck in about eight months Musk said in an X post on Monday. He also said the company will try to make as many of the vehicles as possible before then, though Tesla will “have to return deposits for a lot of people.”
Musk argued the Cybertruck was not unprofitable, and that Tesla was ending production because the “opportunity cost of the complexity of Cybertruck is vastly outweighed by the value of incremental Cybercab production.”
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