Tesla CEO Elon Musk gave investors an update on the company’s plans at the annual Investor Day event. Musk revealed several new initiatives, including an update on the production timeline for the highly anticipated Cybertruck.
Musk announced that Tesla is now targeting the end of 2024 for the start of Cybertruck production, which is a delay from the previously announced start date of late 2022. However, he also revealed that the company has made significant progress on the development of the Cybertruck’s unique exoskeleton design, which is made from ultra-hard 30X cold-rolled stainless steel and bulletproof glass.
The Cybertruck is a crucial part of Tesla’s strategy to dominate the electric vehicle market. The futuristic truck has generated a huge amount of interest since its unveiling in 2019, with over 1 million pre-orders already placed. Musk stated that he expects the Cybertruck to be a major revenue generator for Tesla in the coming years, as the market for electric pickup trucks continues to grow.
In addition to the Cybertruck update, Musk also announced that Tesla is developing a new battery technology that will significantly improve the range and efficiency of its vehicles. The new technology, which is called the 4680 cell, is a larger and more powerful battery cell that will allow Tesla to produce vehicles with longer ranges and faster charging times.
Musk also revealed that Tesla is working on a new version of its popular Model S sedan, which will feature a redesigned interior and exterior. The new Model S is expected to be launched later this year.
The Investor Day event was an opportunity for Musk to share his vision for Tesla’s future with investors and the public. Musk reiterated his commitment to making Tesla the dominant force in the electric vehicle market, and outlined several key initiatives that will help the company achieve that goal. These include expanding production capacity, improving the efficiency of the company’s factories, and increasing investment in research and development.