Tesla has released a rare update on Cybertruck production – confirming the production of over 1,000 units in a single week. The automaker had previously warned that the Cybertruck production ramp could prove difficult due to unique features, like the stainless steel body. Tesla started production back in November 2023 and didn’t release any update on production since. We did get an important piece of data last week when Tesla had to do a recall on all Cybertrucks produced to date. With yesterday’s release of the Q1 2023 shareholder’s deck, Tesla did give us an update on Cybertruck production. First in the shareholders’ deck: The Cybertruck ramp continued successfully at Gigafactory Texas, with a sequential cost improvement in Q1. We produced over 1,000 Cybertrucks in a single week in April. It’s important to note that while Tesla disclosed a production rate of 1,000 Cybertrucks achieved in a week in April, it doesn’t mean that the automaker can maintain it or it would have likely disclosed that. Lars Moravy, Tesla’s Vice President of Vehicle Engineering, also elaborated a bit during the conference call following the release of the shareholders’ deck: Cybertruck was at 1,000 a week just a couple of weeks ago. This happened in the first four to five months since we SOP (start of production) late last year. Of course, volume production is what matters. That’s what drives costs and so our costs are dropping, but the ramp still faces like a lot of challenges with so many new technologies, some supplier limitations, etc., and continue to ramp this year, just focusing on cost efficiency and quality. Tesla also reiterated that its 4680 battery cell production, which is used for Cybertruck, is not a limiting factor in the Cybertruck production ramp. This is good news. 1,000 in a week is about where we expected Tesla to be by the end of Q1. Instead, it was achieved early in Q2, which is not bad. Now, Tesla should be able to maintain that in the coming weeks and move for another push up later this quarter. It’s likely that Tesla exits Q2 at 2,000 Cybertrucks per week, which would be a 100,000 trucks per year. At that rate, Tesla should be at the planned volume production of 250,000 trucks per year early next year, which is about what the company guided.
Tesla Achieves 1,000 Cybertruck Production Milestone in a Week
