Elon Musk, Tesla's chief executive, confirmed during the company's fourth-quarter earnings call on Wednesday that production and initial deliveries of the highly anticipated and futuristic Cybertruck will not begin until next year.
Reuters reported earlier this month that the electric vehicle manufacturer reported record quarterly revenue and a more than 50% increase in deliveries for 2022 despite supply chain issues.
"We will not introduce new vehicle models this year," Musk said, putting an end to speculation about Tesla's new Roadster sports car and Semi truck arriving before the end of 2022.
Musk had already delayed production of the futuristic vehicle from late 2021 to late 2022 when he unveiled it in 2019. Tesla is preparing to launch its Cybertruck, Semi, Roadster, and humanoid robot next year, he said.
Musk stated that he hopes to produce a quarter million Cybertrucks per year, but this will take time because of the amount of new technology that must be introduced.
Batteries, the billionaire stated, are unlikely to be "the limiting factor" in the production of Cybertrucks.
Reuters reported earlier this month that Tesla had delayed production of the Cybertruck as it altered its features and functions in response to increased competition in the electric pickup market.
Tesla, which began producing electric vehicles with the Model S premium sedan and later introduced the Model 3, has yet to enter the highly profitable pickup truck segment, which is currently dominated by gasoline-guzzling vehicles from American automakers.
Musk tweeted Tuesday that he had been driving the latest Cybertruck prototype around the Gigafactory's new Austin, Texas, location.
"It's incredible," he exclaimed.
Ford Motor and Rivian Automotive have launched electric pickup trucks ahead of Tesla. Rivian has begun shipping its R1T pickup truck, while Ford will begin rolling out its F-150 Lightning electric pickup truck in the spring of this year.
General Motors' electric pickup truck, the Silverado, was unveiled earlier this year and will begin production in 2023.
The Cybertuck was scheduled to launch in late 2021 at a starting price of approximately $40,000.
Musk also stated that Tesla's vehicles are expected to achieve full self-driving capability this year.
In the United States, the number of fully self-driving beta Tesla vehicles has risen to nearly 60,000, up from a few thousand at the end of September.
Tesla has been conducting tests on public roads with an improved version of its automated driving software, but the company has stated that the features do not render the vehicles autonomous.
