Tesla launches 80 million won truck… “It’s expensive” stock price plummets

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Electric vehicle ‘Cybertruck’, expected price 1.5 times higher
Stainless steel car body production costs rise
If you order now, you will receive it in 2025.

Tesla launched the ‘Cybertruck’ (pictured), an electric pickup truck that looks like something out of a science fiction movie. It has been four years since the prototype was released. It was the highly anticipated launch of the first electric pickup truck, but the lowest price model was close to 80 million won, and the stock price fell as it was evaluated as “expensive.”

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On the 30th of last month (local time), when Tesla announced the official launch of three Cybertruck models, Tesla CEO Elon Musk held a Cybertruck delivery ceremony for pre-order customers at Tesla headquarters in Austin, Texas. The Indian ceremony was broadcast live on his social media platform X (formerly Twitter).

On this day, Musk, wearing a black top and bottoms and a black leather jacket, appeared driving a cybertruck among the audience at an event where rock music was playing. He got off the truck and introduced, “It’s more truck-like than a truck, more like a sports car than a sports car,” and “This is what the future looks like.”

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Regarding the cybertruck, which is angled like a polyhedron, the New York Times said, “It looks like a lunar lander.” Stainless steel with bulletproof functions was used as the body of the car. However, as car body manufacturing and welding are difficult, production costs are expected to rise and mass production will not be easy.

It is the cheapest of the three models, and if ordered now, the rear-wheel drive model, which can be received from 2025, starts at $60,990 (about 80 million won). Tesla estimates that the actual purchase price, taking into account saved fuel costs and government subsidies, will be $49,890 (about 65 million won). The price of the rear-wheel drive model is about 1.5 times more expensive than the expected price of $40,000 announced by Musk at the time of the prototype release in November 2019. Tesla’s stock price closed at $240.08 on the New York Stock Exchange on this day, down 1.66%. Bloomberg News said, “It is more expensive than expected and delivered later. “Tesla could be abandoned because of the Cybertruck,” he pointed out.

Source: Donga

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