Meeting with Tesla employees
CEO Elon Musk on Friday revealed Tesla Cybertrack delivery dates, a new low-cost model and Tesla's "craziest deliveries" of electric cars in September.
Tesla (TSLA) CEO Elon Musk held an all-staff meeting on Friday. The managing partner of investment fund The Future Fund LLC, tweeted three key news from the meeting that investors should be aware of.
1. Tesla Cybertrack's production launch will be delayed until late 2022, and mass production is unlikely to begin until late 2023.
The company first announced the Cybertruck in 2019, despite a setback during the launch, Tesla's electric pickup was met with a rush of early-booking orders.
2. The $25k Tesla Model 2/A will be launched in 2023.
2023 could be the year Tesla launches a smaller model costing around $25,000. Musk and Tesla executives have been discussing this cheaper model for months, with the first public announcements coming in July 2020.
Many market experts have welcomed these plans by Tesla, as the release of the more budget-friendly model will dramatically expand the target sales market for the company.
3. September will be "the craziest Tesla delivery month in history".
Musk also told employees on Friday that September will be the busiest delivery month in the company's history. This could mean the company is gearing up for another record quarterly delivery of its cars. Tesla usually delivers most of its cars just in the last month of the quarter.
In the second quarter (April through June), Tesla's sales totaled 201,250 units. Despite a 122% increase over the crisis-stricken second quarter of 2020, the figure fell short of market analysts' average projections of 207,000 electric vehicles.
Expert forecasts for Tesla deliveries in the third quarter are around 224,000 vehicles.
Tesla shares were little changed on Friday. Reports of global chip shortages have hampered Tesla shares, as have many other automakers this year. Tesla shares have risen just 3.95% since the start of 2021, but the stock has added 21% in the last quarter and 80% in the last 12 months, after rising 743% in 2020.
