Tesla Inc. Set to Begin Selling Cybertrucks on November 30th

Tesla Inc. CEO Elon Musk recently took to Twitter to announce that the company is planning to start selling its highly anticipated Cybertrucks on November 30th. Despite a slight earnings miss, this news had a positive impact on Tesla’s stock, with shares rising during the extended session on Wednesday.

Musk also shared a tweet from Tesla, highlighting a “Q3 shareholders update,” which confirmed the November 30th event. Although Tesla’s letter to shareholders did not specify a specific date for the first Cybertruck sales, it did indicate that they would occur later this year.

The Cybertruck, which first debuted as a prototype in late 2019, has faced several delays. However, with a strong demand for pickups and SUVs in the U.S. market, especially electric ones, the Cybertruck is expected to be a game-changer. Apart from Rivian Automotive Inc.’s offerings and the Ford Lightning (the electric version of Ford Motor Co.’s best-selling F-150 truck), there are limited options available for electric pickups.

Despite an initial dip of 4.8% in Tesla’s stock during regular trading hours on Wednesday, shares saw a rally in the extended session. So far this year, Tesla’s stock has more than doubled, outperforming the S&P 500 index, which has only seen a modest 13% increase.

With the upcoming launch of the Cybertruck, Tesla is poised to further disrupt the automotive industry and solidify its position as a leader in the electric vehicle market.

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