Electric vehicle maker Tesla (TSLA) is ending production of its Cybertruck.
Tesla CEO Elon Musk announced on social media that the company will end Cybertruck production at its Texas manufacturing facility by the middle of 2027.
The Cybertruck is being discontinued so that Tesla can make room for increased production of its self-driving Cybercab.
“Tesla will be winding down production of the Cybertruck at Gigafactory Texas around the middle of next year to make room for increased Cybercab production,” tweeted Musk.
Tesla sold fewer than 100,000 Cybertrucks in the U.S. through September of this year, and sales in 2025 declined 48% year-over-year to 20,237 vehicles.
The futuristic looking Cybertruck proved polarizing with consumers, with people either loving or hating the vehicle’s appearance.
Tesla referred to the Cybertruck as a pick-up truck. However, the vehicle’s sales never lived up to the company’s expectations.
The Cybertruck was unveiled in 2019. Tesla started delivering it four years later after amassing hundreds of thousands of orders.
The company initially projected that it would sell 250,000 Cybertrucks a year, but actual sales were much lower than that figure.
The winding down of Cybertruck production also comes as Tesla pivots more to artificial intelligence (A.I.) and other technologies such as its “Optimus” humanoid robot.
There are rumours that Tesla will be merged with SpaceX (SPCX), the other publicly traded company run by Elon Musk.
In recent months, Musk has teased a potential merger between SpaceX and Tesla on several occasions, although no formal deal has been announced.
TSLA stock has declined 23% over the past 12 months to trade at $343.69 U.S. per share.
Tech Insider
