Market Overview

Tesla Unveils 'Bulletproof' Cybertruck With 'Unbreakable Glass'

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Tesla Unveils 'Bulletproof' Cybertruck With 'Unbreakable Glass'

Tesla Inc (NASDAQ: TSLA) presented its much-anticipated all-electric pickup “cybertruck” on Thursday.

“Trucks have been the same for a long time, like 100 years. We need something different, and we need sustainable energy now. So I present to you the cybertruck,” the company’s CEO Elon Musk said before the fashionable truck was presented on the stage.

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“We were able to achieve much better capability in the same size as the most popular truck in the U.S., the F-150,” Musk said, displaying the truck’s specifics.

The Tesla truck will start at $39,900 without added incentives, much lower than the previously anticipated price of $50,000.

Musk displayed the strength of the new cybertruck by having its door beaten with a sledge hammer and the window glass struck with heavy metal balls. The truck can tow up to 14,000 lbs of weight.

Tesla CEO also touted the truck as outperforming Ford F-150 and Porsche 911 and shared videos of test drives conducted by Tesla.

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The truck is already available for sale at the Tesla website. “You can order now if you would like,” Musk said.

The pickup truck will be competing in a market dominated by the auto giants Ford Motor Company (NYSE: F) and General Motors Company (NYSE: GM), as we noted earlier.

Tesla’s website was temporarily down after the announcement due to “too many requests.”

Price Action

Tesla’s shares closed 0.74% higher at $354.83 in the run-up to the event on Wednesday. The shares traded further 0.64% up in the after-hours market.

Screengrab of Tesla Event

Posted-In: Elon MuskNews Retail Sales Top Stories Markets Tech Media General Best of Benzinga

 

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