Episode 481: Cybertruck Can Now Be Ordered By Any American
Oct 20, 2024
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Tesla has announced that anyone in America can now order the general-production Cybertruck, ending the previous reservation system. There's buzz around the innovative PowerShare feature, which allows energy storage during outages. The Cybertruck is also making waves in sales, ranking as the third-best-selling electric vehicle in the U.S. Recently, developments in Tesla's power management and the expansion of Giga Berlin were discussed, highlighting the company’s commitment to increasing production capacity.
The general-production Cybertruck is now available for immediate order by anyone in America, eliminating the need for prior reservations.
Tesla is expanding Giga Berlin to increase vehicle production capacity to one million annually, bolstering its growth strategy in the European market.
The anticipated PowerShare feature for the Cybertruck will enable users to share power with devices, enhancing its functionality for camping and emergencies.
Deep dives
Cybertruck Production and Reservations Update
Tesla has stopped the Foundation Series for the Cybertruck, allowing any American to order it directly from their website. This major shift signifies that previous reservations no longer hold significant value, as anyone can now purchase the Cybertruck without reserving in advance. The elimination of reservation requirements has raised questions about demand, as there seems to be a mismatch between projected sales and the current ability to order. The company is now offering a $1,000 discount on Full Self Driving for early reservation holders, adding to the uncertainty surrounding consumer interest.
FSD Free Trial and Model 3 Performance Incentives
Tesla has rolled out a 30-day free trial of Full Self Driving (FSD) for users who haven't subscribed yet, coinciding with a recent update that enhances hands-free capabilities. This is particularly targeted at new owners who may be experiencing FSD for the first time, potentially boosting interest in this feature. Additionally, an incentive for the Model 3 Performance has been reinstated, offering buyers free paint colors when purchasing FSD, achieving a competitive out-the-door price while maintaining access to a federal tax credit. This move has been described as one of the best overall values Tesla currently provides, especially for enthusiasts looking for performance.
Giga Berlin Expansion Approved
Tesla has secured approval to expand Giga Berlin, which will increase its production capacity to one million vehicles per year, establishing it as the largest automotive factory in Germany. This expansion plan includes the construction of new infrastructure for logistics and battery cell testing, all on land already owned by Tesla, which aligns with its growth strategies. The increase in production capacity is crucial for Tesla to meet its ambitious goal of 20 million vehicles annually by 2030. Such expansion reflects Tesla's commitment to scaling its operations in a country known for its automotive industry.
Cybertruck Sales Performance
In the third quarter of 2024, the Cybertruck emerged as the third best-selling electric vehicle in the United States, demonstrating impressive sales figures despite its premium pricing. With around 16,692 units sold in that quarter, the Cybertruck easily outperformed key rivals like the F-150 Lightning and Rivian R1T. This performance highlights Tesla's dominance in the EV market, capturing nearly 50% market share year to date. The robust sales figures suggest that even with the foundation series pricing, Tesla has positioned the Cybertruck well against competitors in the electric pickup segment.
PowerShare Feature Update
A recent announcement revealed updates on the highly anticipated PowerShare feature for the Cybertruck, which will allow users to share power with other devices. This feature is expected to be fully operational with home solar users by the end of 2024 and for Powerwall owners starting in 2025. This capability has drawn significant interest, particularly from users keen on using the Cybertruck for camping and power needs during outages. The update clarifies that the company's commitment to user functionality continues to grow as they integrate more advanced features into their vehicles.
Both the Foundation Series Cybertruck and the reservation list are no longer a thing as Tesla has made the general-production Cybertruck available for anyone in America to order on its website. Plus: an update on Cybertruck’s much-anticipated Powershare feature, Tesla secures approval for the first stage of expansion at Giga Berlin, and more!
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