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Tesla has finally set the first delivery date for the Cybertruck. CEO Elon Musk Posted on social media Wednesday’s Cybertruck delivery event, which traditionally means select customers taking possession of their vehicles, will be held at the company’s Austin Gigafactory on Nov. 30.
News of the delivery event comes on the same day that Tesla reported its third-quarter earnings, results that saw a 44% decline in profits compared to the same period last year.
Notably, the Cybertruck delivery date was not included in the earnings report. The report included a note that pilot production of the Cybertruck has begun at the company’s factory Giga Texas, near Austin, Texas. Tesla also said the Cybertruck is “on track for early deliveries this year.”
Tesla promised to deliver the Cybertruck to customers in the summer of 2023 and then in the third quarter. Both of those deadlines came and went.
Tesla has not shared how many Cybertrucks it will hand over to customers during the delivery event. Vehicle production is expected to increase in 2024. According to the Q3 earnings report, the Gigafactory will have the capacity to produce no less than 125,000 Cybertrucks once it reaches mass production.
And based on Tesla’s balance sheet, it appears the company is pouring money into Cybertruck production. EV manufacturer’s Due to Cybertruck, operating expenses increased 43% year-over-year to $2.4 billion.
Tesla also said it has increased spending on AI development as the company works to get its Dojo supercomputer up and running. The Dojo is designed to train Tesla’s neural networks to advance the automaker’s self-driving capabilities, as well as its humanoid robot Optimus.
