Elon Musk Teases Cybertruck Progress Again: 'Tough Product To Design ... But It'll Be Great!'

Zinger Key Points
  • Tesla's Cybertuck is expected to help the company kickstart volume growth in a big way, analysts say.
  • Future Funds' Gary Black expects volume to ramp up to 250,000 units by the end of 2024.
  • CEO Elon Musk has lost no opportunity in touting how great the Cybertruck is.

Tesla, Inc. TSLA is tirelessly working on bringing its highly anticipated Cybertruck into production, and fans are eagerly awaiting the company’s “iPhone moment.” Tesla enthusiasts and trackers are actively sharing updates and photos on social media, showcasing their keen interest in the vehicle’s progress. 

What Happened: A Tesla influencer, known by the Twitter handle @TeslaSynopsis, shared a captivating video displaying both the front and rear views of the Cybertruck. 

Accompanied by the caption, “Here’s your dose of Cybertruck,” the video appears to have been filmed at the Giga Texas site, with a glimpse of a factory worker in motion. 

While the exact time of the video remains unclear, its impact is undeniable, garnering over 1.4 million views and highlighting the tremendous anticipation surrounding this yet-to-be-launched vehicle. Elon Musk, the CEO of Tesla, also weighed in on the video, stating, “We’re working hard to get Cybertruck into production!” 

Recognizing the challenges faced during the design and manufacturing process, Musk emphasized, “This was a tough product to design & even tougher to build,” while expressing confidence in its ultimate greatness.

See Also: Everything You Need To Know About Tesla Stock

Why It Matters: The significance of the Cybertruck’s progress stems from Tesla’s recent decline in deliveries amid economic uncertainties. Despite the company’s efforts, including aggressive price cuts, its sales have been lackluster. 

However, analysts anticipate that the Cybertruck could rejuvenate Tesla’s volume figures. Gary Black from Future Fund predicts a fourth-quarter launch for the Cybertruck, projecting a unit potential of over 250,000 by 2024. 

Even “Shark Tank”-fame Kevin O’Leary recognizes the appeal of the Cybertruck, referring to it as a “very interesting” vehicle and acknowledging the immense demand surrounding it. 

Price Action: Tesla’s stock closed Tuesday’s session at $185.77, representing a 1.64% decrease, according to data from Benzinga Pro.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

Read Next: Tesla Takes The Crown, Ends Ford’s 12-Year Reign In Brand Loyalty For Vehicle Make

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