Musk Says Tesla Will End Cybertruck Production Next Year to Free Capacity for Cybercab
TSLA sits 17% above its 52-week low of $297.38 on elevated volume (2.1× avg).
Summary
Musk said on X that Tesla will wind down Cybertruck production at its Texas gigafactory next year, freeing room for higher Cybercab output. The stainless-steel pickup has seen slow demand, and Musk framed the shift as a pivot toward robotaxis and humanoid robots. Tesla already discontinued its luxury Model S and X vehicles earlier this year, so this is the third product line pulled back in a matter of months. The Cybertruck was one of Tesla's most visible new programs; killing it removes a volume and revenue contributor and concentrates the story on autonomy and robotics, where spending is already heavy — Q3 operating income fell 56% to $718M on surging AI and R&D costs. The move follows the September Cybercab ride launches in Austin and the Q3 revenue beat that still carried a steep profit decline.
At the time of this announcement, TSLA was trading at $348.78 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $1.4T. The 52-week trading range was $297.38 to $498.83. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.