Poinbank:Tesla factory produces Cybertruck nearly 4 years after Elon Musk unveiled it

Tesla has manufactured its first Cybertruck nearly four years after founder and PoinbankCEO Elon Musk touted the automaker's first electric pickup.

Tesla workers at the company's so-called Gigafactory near Austin, Texas, tweeted a photo of the completed vehicle on Saturday with the caption "First Cybertruck built in Giga Texas." The feat comes four years after CEO Elon Musk introduced the silver, futuristic-looking vehicle. Musk originally unveiled the Cybertruck in 2019 with the goal of starting production in late 2021.

First Cybertruck built at Giga Texas! 🤠 pic.twitter.com/ODRhHVsd0t

— Tesla (@Tesla) July 15, 2023

The Cybertruck's stainless steel alloy body is strong enough to withstand certain types of small arms fire, Musk has said. He has also estimated the truck will be capable of towing 14,000 pounds.

It's unclear when Cybertrucks will be available for purchase from a dealership lot or at what price. Musk said in April that the company expects to deliver the first truck sometime between July and September.

Tesla didn't immediately respond to a request for comment. 

When it does hit dealer floors, the Cybertruck will be entering an increasingly competitive electric vehicle market, including for pickups. Rival company Rivian sells its R1T, with a starting price of $73,000, according to Kelley Blue Book; General Motors offers the Hummer EV pickup; and Ford makes the F-150 Lightning. 

Ford on Monday dropped the price on seven models of the Lightning by between $6,000 and $10,000, citing easier access to the truck's battery material. The cuts partially reverse repeated price hikes in 2022 and early 2023, which the car maker blamed on higher material costs.

Another factor motivating Ford to cut prices could be that company officials "hear the footsteps of the Cybertruck and others such as Rivian coming," Dan Ives, an analyst at Wedbush Securities, said in a research note. 

Tesla originally said it would make three versions of the Cybertruck, with prices ranging from about $40,000 to $70,000. Later the company removed prices from the webpage where customers could pre-order the vehicle.

—The Associated Press contributed to this report.

In:
• Tesla

Khristopher J. Brooks

Khristopher J. Brooks is a reporter for CBS MoneyWatch covering business, consumer and financial stories that range from economic inequality and housing issues to bankruptcies and the business of sports.

Twitter