Tesla Cybertruck Faces Commercial Hurdles as SpaceX and xAI Acquire Hundreds
Tesla’s Cybertruck is grappling with significant commercial challenges. The electric pickup truck is selling at a mere 20,000 units annually, a stark contrast to the originally planned production capacity of 250,000 units per year. This translates to just a 10% utilization rate of the production line, leading to substantial financial pressure for the automaker.
In a bid to address the escalating inventory issues, Elon Musk’s other ventures, SpaceX and xAI, have intervened to acquire hundreds of unsold Cybertrucks. Over the weekend, multiple truckloads were observed being delivered to both SpaceX’s Starbase facility and xAI offices. Cybertruck lead engineer, Wes Morrill, confirmed that SpaceX is replacing its internal combustion engine support fleet with Cybertrucks.
This development underscores the interconnected nature of Musk’s business empire and sparks questions about the real market demand for Tesla’s most ambitious vehicle project. Industry analysts perceive this as Tesla’s first significant commercial setback in the pickup truck segment.
Source: Electrek