On July 14, Tesla officially started selling the Cyberquad toy car on its Chinese website at a price of 11,990 yuan (around $1,860).
By 2:30 p.m. the same day, the toy car was already listed as "out of stock" on Tesla's China website. Media reports suggest that reselling activities had already kicked off on secondary markets, with the toy cars being offered at marked-up prices. These resellers, often dubbed as "scalpers," had listed the Cyberquad toy cars at prices ranging from 15,900 yuan to 59,900 yuan ($2,480 to $9,360).
Hype Drives Price Up to $9,360
The toy car, known for its iconic Tesla LED headlights and taillights, is designed for children aged between 8 and 12 years old. It can carry a maximum weight of 50 kilograms, and its 21.6V Flight Speed® lithium-ion battery boasts remarkable performance in terms of range and charging speed, offering a driving distance of up to 13 kilometers when fully charged.
In terms of speed, the Cyberquad toy car has two modes: 4 kilometers per hour and 8 kilometers per hour. It can run for approximately 1.5 hours on a full charge. Netizens jokingly commented, "This car has significantly lowered the entry barrier to Tesla electric vehicles."
特斯拉Cyberquad售价11990，不到1个 #ETH ！
酷，整一辆去买菜会不会很拉风？！#Tesla pic.twitter.com/yY1Z1r4PJk — BITWU.ETH (@BTW0205) July 14, 2023
As the first children's toy car launched by Tesla on its Chinese website, the Cyberquad attracted a great deal of attention as soon as it hit the market, instantly becoming a hot commodity.
According to a report from the Securities Times, at 11 a.m. on July 14, journalists experienced an error message when trying to add the Cyberquad toy car to their shopping cart on Tesla's official online store. In response to the situation, official representatives suggested that the website might be slow due to high traffic and recommended trying to refresh the page or use incognito mode to circumvent the problem.
On secondary markets, listings offering to "help buy the Cyberquad Tesla toy car at a premium" appeared a day in advance. By July 14, various marked-up Cyberquad toy cars had emerged. Preliminary counts show that these toy cars were being sold for anywhere between 15,900 and 59,900 yuan, hinting at the creation of a "scalper industry chain."
Previously Recalled in the U.S.
Back in late 2021, Tesla had already listed this product on its overseas official stores. The toy car had a top speed of 10 miles per hour (approximately 16 kilometers per hour), a built-in lithium-ion battery, a maximum driving distance of about 15 miles (approximately 24 kilometers), and was sold for $1,900, which is roughly 13,000 yuan.
At the 2019 Tesla Cybertruck launch, Tesla demonstrated a Cyberquad all-electric off-road motorcycle to showcase the electric pickup's cargo capacity. It was said that this vehicle could perfectly fit the cargo bed and could even draw power directly from the pickup to extend its range.
Tesla had previously stated that the all-electric off-road motorcycle would initially be sold as an optional accessory for the Cybertruck electric pickup, not ruling out the possibility of selling it separately in the future. However, aside from the resemblance to the Cyberquad, there is a fundamental difference between Tesla's child-designed "off-road motorcycle" and the one that was initially showcased. One is a toy, and the other is an actual vehicle.
Notably, last year in the U.S. market, Tesla's Cybersquad children's electric vehicle was recalled by its manufacturer, RadioFlyer, for not complying with safety regulations.
According to the U.S. Consumer Product Safety Commission (CPSC) and RadioFlyer, the Cybersquad was considered to meet the standards of a "youth all-terrain vehicle (ATV)," and thus needed to fulfill specific safety standards, such as having mechanical suspension and tire pressure that meet the required criteria. Moreover, companies selling all-terrain vehicles also need to provide safety training and information. According to the CPSC and RadioFlyer, the RadioFlyer version of the Cybersquad did not meet these requirements. The U.S. Consumer Product Safety Commission stated in its announcement, "The establishment of these all-terrain vehicle safety standards is to reduce collision and injury hazards, and to prevent serious injuries or death."
