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Tesla Cybertruck Orders Estimated At 650K By Wedbush Securities

by Ma. Claribelle Deveza June 23, 2020

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Featured Image Credit: Tesla

Tesla Cybertruck orders could be above 650,000 already, estimated Wedbush Securities analyst Dan Ives. Since Elon Musk introduced the Cybertruck to the world, it has started to etch its name in pop culture. Tesla’s all-electric pickup has been seen in music videos, turned into a toy car and hobby-grade model by Hot Wheels, and was even seen running away from Tie Fighters. 

Ives seems to have based his conclusion on the Cybertruck’s popularity outside Tesla's usual supporters, like those found in the TSLA community, EV enthusiasts, and environmentalists. “We estimate that pre-order levels are staggering coming out of the gates since announced last year and currently stand north of 650,000 based on our estimate with momentum,” said the Wedbush analyst.

Tesla Cybertruck production is expected to begin in late 2021, starting with the dual-motor and tri-motor variant. Production on the single-motor variant is scheduled to start in 2022. Elon Musk has hinted at a Plaid Cybertruck as well but did not give any other details about it. The Plaid Cybertruck could go into production after the Plaid Model S, Plaid Model X, and Roadster 2.0. 

During Elon Musk’s interview with Joe Rogan, he mentioned that Tesla could produce the Cybertruck before the Roadster 2.0, even though the pickup was unveiled after the all-electric supercar. 

“The Roadster is kinda like dessert,” Musk told Rogan, after enumerating that Tesla also needed to start working on getting the Semi and Cybertruck into production. “So, we got to get the meat and potatoes and greens and stuff." When Rogan asked him if the Roadster would come before the Cybertruck, Elon Musk said: “I mean, I think we should do Cybertruck first.”

Tesla started looking for land to build its Cybertruck Gigafactory—or possible Terafactory—in the United States earlier this year. Many states welcomed Tesla, Elon Musk, and the Cybertruck, but the company appears to have narrowed down its choices between Austin, Texas, and Tulsa, Oklahoma. 

Currently, Texas seems to be the favorite. It has already started thinking of possible tax breaks to give Tesla if a Cybertruck factory was built there. However, Elon Musk has stated that Tesla has not made its final decision yet. So there may still be some hope for Tulsa. 




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