Tesla extends Cybertruck production to summer 2027 to work through backlog, Musk says
Tesla will keep building the Cybertruck through the end of summer 2027, pushing back a wind-down that had been set for mid-2027, CEO Elon Musk said in a post on X. Tesla also plans to return deposits to some buyers because orders exceed what the factory can build, which matters to US investors following Tesla's production plans and the electric-vehicle sector.
Tesla is pushing back a deadline it had set for ending Cybertruck production. In a post on X on Wednesday, Musk said the company will keep making the pickup through the end of summer 2027, giving the car company a few additional months to work through its backlog. Last week, Musk originally said Tesla would wind down production by mid-2027, according to CBS News.
Orders outpace output
Days after the first announcement, Musk said the company would need to refund some buyers. He noted that the Cybertruck order rate "far exceeds" the electric vehicle maker's production rate. In his post, he said Tesla would try to build as many trucks as possible before the line shuts, roughly eight months from the time of his comments, but would have to return deposits for many customers.
The report does not say how many orders remain unfilled, how many deposits will be refunded, or what dollar amount is involved. The company did not provide those figures in the coverage.
Customer reaction
The extension drew complaints from some Tesla customers on social media, who said they were still waiting for the stainless-steel truck. One Reddit user, according to the report, said they had a truck on order and feared it might not be delivered. Customers who have reserved a vehicle now face a choice between waiting for a build slot before the line closes and receiving a refund.
Musk on the trade-off
Musk acknowledged the decision was a weak one from a financial standpoint. "This is not the smartest move from a profit-maximizing standpoint btw," he wrote, adding that there must be room for sentimentality. The report does not say how Tesla expects the decision to affect its costs, margins or earnings, and the company did not give a financial estimate in the coverage.
Why it matters for investors
For holders of Tesla (TSLA), the decision is a reminder that the company is willing to adjust product timelines and customer commitments, and that the choices can carry financial costs. The Cybertruck is a single model, and the report does not describe its share of Tesla's sales or revenue.
The story also touches the broader electric-vehicle and automotive sector. A model that has been running longer than planned and that has a backlog of orders ties together several questions for the industry: how demand for specialty electric trucks holds up, how automakers manage production wind-downs, and how they treat customers who have placed deposits. Investors following those trends may want to watch whether Tesla provides more detail on volumes or refunds in future filings or statements.
Sources
- Tesla extending Cybertruck production through summer 2027 to clear backlog, Elon Musk says cbsnews.com
Written with AI assistance on Nov 11, 3:02 PM ET from the reports listed under Sources, and reviewed by our editor after publication. Before it was published, every figure was checked against those reports, and passages with figures that could not be found there were left out. It can still contain mistakes: read the sources before acting on anything. How we review. Not investment advice.