At a Glance:
- Tesla’s new factories in Berlin and Texas are estimated to double production capacity.
- Much-anticipated Cybertruck might go into production by early 2023.
- Tesla’s $25,000 autonomous electric car has to wait as other production mark priority.
Tesla will be unveiling the updated product roadmap and timeframes for the launch of Cybertruck and the—promised— $25,000 self-driving electric car.
Tesla has established two new factories in Texas and Berlin. Analysts suggest that this will double the production capacity for Tesla. Elon Musk stated that these new factories will use manufacturing technology like casting the body in two or more pieces and integrating next-gen batteries into vehicles.
New Tesla Factories
In 2020, Musk had confirmed that the new technologies will help reduce the number of vehicle parts. This will lead to decreased manufacturing complexity and also cut costs. However, it might hold significant production risk.
Electric vehicles are popular in the market, investors are curious about the outlook for the supply chain. The addition of new factories will help Tesla meet the rising demand for electric cars.
Cybertruck under production
Musk revealed the Tesla Cybertruck in 2019. It was a futuristic electric truck that was aimed to gain a foothold in the profitable niche of the U.S. market. However, the launch has been delayed from 2021 to late 2022.
Sources are reporting that Tesla Cybertruck may go into production in early 2023. The design will have new changes in the features and functionalities differing from the original concept.
Fierce Competition Awaits Tesla
For the first time, Tesla is entering serious competition with the Cybertruck. The U.S. truck market is home to ‘Big Three’ American Automakers. It will be difficult for Tesla to create its niche.
Tesla Cybertruck will be aiming for lifestyle buyers or weekend warriors rather than commercial buyers. Tesla had also announced that in three years it will be launching a $25,000 self-driving electric car, but due to production priorities, Tesla will be delaying the project.
