Tesla postpones Cybertruck production to 2023

San Francisco — Tesla aims to start initial production of its much-anticipatedby the end of the first quarter of 2023, pushing back its plan to begin production late this year, a person familiar with the matter said.

The person said the delay comes as Tesla is changing features and functions of the electric bakkie to make a compelling product as competition heats up in the segment.in the first quarter of 2023 before increasing output, the source said.Tesla, the world's top electric carmaker, makes electric sedans and sport utility vehicles but has missed out on the bakkie segment, which is profitable and hugely popular in the US.

Ford's market value breached $100bn for the first time last Thursday when Tesla shares fell 6.7% and Rivian slumped 7.1%. CEO Elon Musk, who unveiled the futuristic vehicle in 2019, had already delayed its production from late 2021 to late 2022.“Oh man, this year has been such a supply chain nightmare & it's not over!," he tweeted in late-November, when asked about theorder website. Last month, the website said, “You will be able to complete your configuration as production nears in 2022.” Now “in 2022” has been omitted.

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