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Tesla reveals Cybertruck pricing and it may annoy customers

Tesla reveals Cybertruck pricing and it may annoy customers

It’s been approximately four years since Elon Musk first unveiled the Cybertruck and the journey to its official launch has been marked by numerous challenges—global pandemics, a presidential election, geopolitical conflicts, and more. 

Finally, on November 30, Tesla (NASDAQ: TSLA) held its Cybertruck event, where it delivered its first vehicles to customers

In general, there wasn’t much new information about Cybertruck since its initial presentation. However, shortly after the delivery event, Tesla revealed the pricing on its official website, and many were caught off guard by what they saw.

What happened?

Notably, Tesla unveiled three Cybertruck models during the delivery event, including rear-wheel drive, all-wheel drive, and Cyberbeast – the most powerful type.

However, it appears that the price tag of the long-delayed Cybertruck is significantly higher than when the electric full-size pickup truck was first announced in 2019. 

The rear-wheel drive version is starting at $60,990, according to Tesla’s website, over 50% higher than what Elon Musk initially touted four years ago. The EV maker originally said the Cybertruck would cost less than $40,000, although the world-changing Covid-19 pandemic and the ensuing period of record-high inflation forced Tesla to break its promise. 

Tesla cuts Cyberbeast range by 40%

Intriguingly, it appears that it was not only the price tag that was adjusted. Further, it seems that Tesla also changed the range of its tri-motor Cyberbeast.

As pointed out by event-driven trader Gurgavin Chandhoke, Tesla’s original announcement stated that Cyberbeast had a range of 500 miles. Now, after the Thursday event, the company’s website shows that the range of that same model is 320 miles, marking a reduction of nearly 40%. 

At the same time, its price surged by about 40% from the initial introduction, from $69,900 to the $99,990 revealed on November 30. 

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