History is full of turning points and it appears Tesla may have finally reached theirs.
During yesterday’s earnings call, CEO Elon Musk revealed the Cybertruck has been delayed to “hopefully next year.” While that was to be expected, it means the highly-anticipated model won’t arrive until 2023 at the earliest.
This begs a serious question, did Tesla just lose the electric truck war? While only time will tell, it seems like a possibility as the Rivian R1T and GMC Hummer EV are already in production.
The F-150 Lightning is also slated to go into production this spring and Ford has already received nearly 200,000 reservations. The automaker has seen so much demand, they’re planning to nearly double their production capacity to 150,000 units annually.
Not to be outdone, Chevrolet recently introduced the Silverado EV. It will go into production in the spring of 2023 and be followed by a GMC Sierra EV. While those two models could potentially arrive after the Cybertruck, there’s no guarantee as Tesla apparently doesn’t even know when their own truck will be launched.
Thanks to this uncertainty, consumers will need to make a choice. Do they continue waiting for a Cybertruck and hope it arrives next year or simply order a different pickup? While Tesla fanatics will likely stick it out, people who don’t worship at the altar of Elon Musk will have an interesting choice to make.
Wall Street seems to have made up their mind as Tesla stock has plunged more than 11% as of this writing. It’s currently down more than $100 (£75 / €90) per share and that’s undoubtedly due, in part, to the Cybertruck news.
That brings us to our question of the day, did Tesla just lose the electric truck war? Let us know what you think in the comments below.