More details have emerged on Tesla Inc.'s TSLA highly anticipated Cybertruck, set for release in 2023. And CEO Elon Musk has also hyped up one factor about the electric pickup truck.
What Happened: Twitter users shared a TikTok video of Tesla testing a Cybertruck prototype's steering, showing it take a U-turn, drive away, have a wobbly movement to test steering stability, and then take another sharp U-turn.
According to Electrek, the electric pickup truck likely used rear-wheel or four-wheel steering, enabling the steering of the rear axle to a smaller degree than the front wheel, resulting in a tighter and more precise turning radius.
Musk said the turning of the Cybertruck was perhaps better than a Model Y.
If his words are true, it should be a killer capability for a vehicle that could weigh up to even 10,000 pounds, including a payload capacity of 3,500 pounds, compared to Model Y’s weight of around 4,400 pounds.
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Why It’s Important: Although Rivian Automotive, Inc. RIVN and Ford Motor Company F have already launched their own EV pickups, Tesla's Cybertruck is expected to disrupt the game.
In January, Musk described the Cybertuck as “incredible” following a review of a beta production version.
Future Fund’s Gary Black expects Cybertruck deliveries to be in the range of 200,000 units in 2024, adding $0.40 per share in earnings. Fans, meanwhile, see the launch of Cybertruck as an "iPhone moment" for Tesla.
Price Action: Tesla closed Tuesday's session down 1.37% at $189.19, according to Benzinga Pro.
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