Tesla To Unveil Updated Cybertruck In Coming Quarter

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk said over the weekend that an updated version of the upcoming Cybertruck will be unveiled in the next quarter.

What Happened: The entrepreneur teased the reveal of the electric pickup in a tweet.

Update probably in Q2. Cybertruck will be built at Giga Texas, so focus right now is on getting that beast built.

— Elon Musk (@elonmusk) March 6, 2021

Musk said the present focus has to be on building the Gigafactory in Texas where the vehicle will be built.

Why It Matters: In October last year, Musk had said that the Cybertruck was going to be “better than what we showed.”

See Also: Tesla Cybertruck And SpaceX Starship To Use A New Alloy, Musk Reveals

The highly anticipated vehicle was first unveiled in November 2019 and was put up for sale on the Tesla website for $39,900 without added incentives.

See Also: Rivian Starts Taking Pickup Orders, With Pricing That Tops Tesla Cybertruck

In May last year, Musk went on a test drive of the Cybertruck with comedian Jay Leno and remarked that the vehicle was  “pretty close” to the final version, but the proportions needed to be 5% smaller to fit in a standard garage.

Price Action: Tesla shares closed nearly 3.8% lower at $597.95 on Friday and fell 0.28% in the after-hours trading.

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