Hype around Tesla, Inc.'s TSLA Cybertruck has been gaining steam, as the vehicle's potential launch fast approaches.
What Happened: Following Tesla’s tweet of the Cybertruck's “crash test” on Saturday, company CEO Elon Musk tweeted that he walked down the Cybertruck production line at Giga Texas for several hours.
“Gonna be awesome,” he said of the vehicle, adding that it “feels like the future.”
The billionaire entrepreneur also separately tweeted the crash test video, telling followers to “wait for it."
Why It’s Important: Cybertruck will be Tesla’s next major vehicle, following the Model S, X, 3, Y and Semi. It is expected to be commercially released later this year. Since it was announced in Nov. 2019, the Cybertruck has generated a lot of enthusiasm, with Tesla fans going gaga over it.
The Cybertruck, however, could be late to the party as Rivian Automotive, Inc.’s RIVN R1T electric pickup truck and Ford Motor Co.’s F F-150 Lightning pickup truck are already on the market. Still, Tesla's followers see the truck as a disruptor in the market and the launch as Tesla's “iPhone" moment.
Tesla stock closed Friday's session 6.24% higher at $207.46, according to Benzinga Pro data.
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Photo: NASA Kennedy via flickr
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