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Companies6 Nov, 18:30 UTCUnited States

Tesla to wind down Cybertruck production by mid-2027 for Cybercab

Tesla will end Cybertruck production at its Texas factory and use the plant for its self-driving Cybercab taxi. Elon Musk is shifting the company's focus toward robotics and AI.

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Photo: Larry D. Moore, CC BY 4.0, via Wikimedia Commons

Companies · 6 Nov, 18:30 UTC

Tesla plans to wind down production of its Cybertruck electric pickup. Chief executive Elon Musk announced the decision. Production is set to stop at around the middle of next year.

Companies

The Cybertruck is built at Tesla's factory in Texas. Tesla wants to use that plant to build the Cybercab, its self-driving taxi. The move ends an effort to win a share of the large US pickup truck market.

Tesla, the past month

$359.56down −4.83%

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The truck's bulk and crude shape meant it could pass regulatory standards only in more permissive markets. That limited where Tesla could sell it.

Musk is also turning the company's attention toward robotics and AI. For Tesla owners and shareholders, the change marks a clear shift in what the carmaker plans to make in Texas.

What comes next

Cybertruck production is due to stop around the middle of next year.

Tesla$359.56down −4.83%over 1 month

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Who is who

Elon MuskTesla chief executive

Background

The Cybertruck could only meet regulatory standards in more permissive markets because of its size and shape.

Where: United States
Published: 6 Nov, 18:30 UTC
Section: Companies
Markets: Tesla

This article is not investment advice. It was written by our automated newsroom from published reports and official statements, using only the facts in them, and not read by a person before it was published. Report a mistake
Photo: Larry D. Moore, CC BY 4.0, via Wikimedia Commons

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