Tesla Cybertruck is EV pickup market's latest casualty

Tesla plans to end Cybertruck assembly around June or July next year, after building vehicles to clear its reported order backlog, CEO Elon Musk said in a social media post. The Austin factory is expected to switch capacity to Cybercab robotaxis, which have not yet entered commercial sales.

Cybertruck sales fell 28% in the first nine months of this year to an estimated 11,600 units, according to Motor Intelligence, well below Musk’s earlier forecast of 250,000 annually. Electric pickups have also struggled at General Motors and Ford: high battery costs push prices up, while towing and hauling performance can fall short of buyers’ expectations. Ford is turning to a smaller electric pickup, while Stellantis plans an extended-range model with a petrol-powered generator.