The Cybertruck Will Be My Every Day Vehicle
Tesla Cybertruck - My Every Day Vehicle
Elon Musk recently shared that he reviewed production of the Tesla Cybertruck and that is is in beta production. This is a good sign for those who have been waiting for a Tesla Cybertruck for a few years now.
I have a pre-order for the Tesla Cybertruck, and it is going to be my every day vehicle. Right now, I am driving a Tesla Model 3 RWD and I love it - but this vehicle is just a stepping stone to the vehicle I really want.
I'm hoping that the Tesla Cybertruck will have a quad motor and 500 range variant. This will be really nice and allow me to charge less than I do right now with my Model 3 - it's usually once or twice a week right now for me.
Also, this vehicle will make driving around really safe. My Model 3 is a very safe vehicle and strong and durable. The Tesla Cybertruck will be at another level beyond that. It has a stainless steel body and will hopefully have more durable windows than were shown at the reveal event, where a steel ball cracked a window - when it wasn't supposed to.
It will also help that the Cybertruck will have post apocalyptic features, the potential for solar panels, and a lot of space, both for passengers in the back and for storage in the bed of the truck. I'm hoping that I'm not too tall to sleep in the Tesla Cybertruck, and plan on taking it camping.
Let's go over how much it will cost, using Tesla's own existing fleet of vehicles as a reference.
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How Much Will It Cost?
Many are wondering if Tesla will honor the original prices for the Tesla Cybertruck, and I'm thinking that this is much more of a possibility with the recent price cuts Tesla did. I've written many times that I think the Tesla Cybertruck will be easy to mass produce due to the simplicity of its outer frame.
If it doesn't have mirrors on the side, that reduces complexity. If it doesn't have any curves in the steel, that reduces complexity. I think Tesla has learned quite a bit about manufacturing vehicles, and it has a chance to start fresh with the Tesla Cybertruck and to be able to mass produce millions of them per year (eventually).
I see a dual-motor Cybertruck with 300 miles of range costing about $59,000. I then see a trimotor or quad-motor Cybertruck costing about $79,000, and I believe Tesla will keep it under $80,000 in order to take advantage of the IRA tax credit in the U.S.
I look at Tesla's cost per EPA stated range, and it looks something like this right now:
* Tesla Model 3 RWD. 272 miles of range. $43,900 / 272 = $161 per mile of range
* Tesla Model Y Long Range. 330 miles of range. $53,490 / 330 = $162 per mile of range
* Tesla Model S Long Range. 405 miles of range. $94,990 / 405 = $234 per mile of range
* Tesla Model X AWD. 351 miles of range. $109,990 / 351 = $313 per mile of range
You can see here that Tesla charges a premium for range for its higher end vehicles that have more performance and luxury. My Tesla Model 3 RWD is the most efficient cost per mile of range that Tesla offers today, however, the long range Model 3 could beat that when it is sold again. At $49,990 / 358, you get a staggering $139 per mile of range for that vehicle - the most efficient cost per mile of any Tesla.
I think the cost per mile of the Tesla Cybertruck will be on the higher end of price, probably around $200 - in the middle of the Model 3 and Model S. If it has 500 miles of range, you get $100,000 as a base price. If you use a lower cost per mile, let's say $160, you get $80,000 right on the nose.
Tesla is going to have to make the Tesla Cybertruck be at a cost comparable to the Model 3 and Model Y in order to have 500 miles of range. If it has 400 miles of range, and a trimotor configuration, then a cost of $200 per mile of range puts it right at $80,000.
I conclude that the cost will be a Tesla Cybertruck, dual-motor, costing around $59,000 and a trimotor or quad-motor with between 400 and 500 miles of range for $79,900.
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Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter or LinkedIn to stay in touch and follow his Tesla news coverage on Torque News.