Tesla’s Truck Dreams Shattered (or Were They?)
Durable and versatile. Dent and shatter proof.
Or at least those are the claims.
But as the world and Wall Street watched late last week, Tesla’s (NASDAQ: TSLA) Cybertruck dreams appeared to shatter before our eyes.
Or did they?
The Debut Goes Horribly Wrong
Let me set the stage for you. The event had all the hype and buzz Elon Musk could hope for.
The crowd gasped, oohed and awed as Musk’s futuristic truck rolled onto the stage.
The truck was angular and rugged, boasting a futuristic Mars rover-like design.
Specs were impressive too. But then the stress-test demonstrations began and things went horribly wrong.
Cybertruck’s frame is made of stainless steel. Strong stuff. And to prove this Cybertruck engineers took a sledgehammer and smashed it into the side-door panel of Cybertruck.
Not a dent, nor a scratch… Very impressive.
Up next was the shatter-proof glass test. Tesla’s lead designer Franz von Holzhausen took a steel ball roughly the size of a baseball and chucked it at the shatterproof driver’s window and… it shattered.
Source: RoadShow by CNET
Musk and co. looked dumbfounded. No one saw that coming. And it was the perfect gaff to send the mainstream media and Wall Street into an anti-Cybertruck fervor.
But I could see Musk getting the last laugh here… for one thing its specs are very impressive.
Under the Hood
Tesla claims its base-model Cybertruck would have a range of 250 miles per charge and a towing capacity of 7,500 pounds. It also can reportedly muster up enough juice to haul a payload of up to 3,500 pounds.
Speed junkies should also get a kick out of Cybertruck. The midlevel dual-motor version is reported to go 0–60 in 4.5 seconds.
Tesla also has a three-motor version that could theoretically have a range of 500 miles and a 14,000-pound towing capacity.
Wall Street’s Take
Cybertruck’s supremely polarizing design and window gaff is putting a lot of downward pressure on shares, falling from a close of $354 Thursday to an open of $344 today.
But as I mentioned Musk could have the last laugh. Musk claims Tesla has already received 200,000 preorders for its Cybertruck.
At a roughly $50,000 price point for the midlevel model that could equate to as much as $10 billion in new revenue for Tesla.
And that certainly would be enough to put a smile on investors’ faces and move shares higher.
But that requires Tesla to deliver on its promises in full in a timely fashion.
A prospect that admittedly still keeps us worried at night.
For Technology Profits Daily,
Chief Technology Expert, Technology Profits Daily