Tesla will wind down production of the Cybertruck at its Texas factory by mid-2027, CEO Elon Musk announced on X on Friday, Nov. 6, CBS News reported.
Musk said the move will “make room for increased Cybercab production,” referring to Tesla’s planned self-driving taxi.
Tesla shares rose 4.7% Friday after the announcement.
Unveiled in 2019, the stainless-steel pickup drew attention for its design but has faced quality problems and multiple recalls. Analyst Dan Ives told CBS News “the writing was on the wall” given the truck’s high price and weak demand.
According to Forbes, the Texas gigafactory is the only plant currently building the Cybertruck.
Sources: CBS News. Thee Arizona Times uses AI-assisted reporting reviewed against the sources listed.
Photo: A1C6 / CC0 via Wikimedia Commons.
