On Friday, Tesla CEO Elon Musk said that the company would stop producing the Cybertruck at its Texas plant around mid-2027. The decision comes after years of consistently weak sales of the futuristic model, which was once positioned as a competitor to traditional pickup trucks, UNN reports, citing Reuters.
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In a post on the social network X, Musk said that winding down Cybertruck production would allow the company to increase production of a new model, the Cybercab. According to the billionaire's plans, this vehicle is intended to become a key element of Tesla's ambitions in the field of robotic taxis (robotaxis).
The news came at the end of an extremely unsuccessful week for Musk: his record political spending—nearly half a billion dollars—failed to produce the expected result in the U.S. midterm elections held on Tuesday. Most of the Republican candidates he supported lost their races.
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Overall, during this week, the market capitalization of companies owned by Musk fell by more than $370 billion.
It is currently unclear whether Cybertruck production will be moved to another facility or discontinued entirely. Tesla's plant in Austin is the only known company facility equipped to manufacture specialized components for this heavy, angular model.
Responding to a user on X, Musk called the Cybertruck "the best car Tesla has ever made," and its production halt "the end of an era."
Tesla did not immediately respond to a Reuters request for comment, which was sent outside business hours.
The American electric-vehicle manufacturer began delivering the Cybertruck to customers at the end of 2023. According to Kelley Blue Book, a platform specializing in the automotive industry, only 20,237 Cybertrucks were sold in the United States last year (the 2024 figure was 38,965 units, indicating a 48% decline). At the start of production in 2023, Musk forecast annual sales of 250,000 vehicles.
"There is no point in continuing production if the targets are not being met," said former Aston Martin CEO Andy Palmer. "Any sensible automotive industry professional would say the same." "Undoubtedly, on Tesla's balance sheet this will be only a minor amount—at the level of a rounding error—yet the statistics speak for themselves."
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According to documents filed for its initial public offering (IPO), Elon Musk's SpaceX was one of the largest purchasers of this model last year: in 2025, it bought $131 million worth of Cybertruck pickups from Tesla at the official price.