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Tesla Cybertruck Production Triples in U.S., Profitability Expected by Year-End

Jul 23, 2024, 08:12 PM

Tesla Inc. announced significant advancements in its Cybertruck production and cost reduction strategies. In July, the company entered validation of vehicle testing for its first prototype Cybertruck produced with in-house dry cathode 4680 cells, marking a major cost reduction milestone once ramped. Cybertruck production more than tripled sequentially in Q2 and remains on track to achieve profitability by the end of the year in the U.S. Additionally, Tesla saw a sequential rebound in vehicle deliveries in Q2 as overall consumer sentiment improved. The company produced over 50% more 4680 cells in Q2 than in Q1 and expects a sequential increase in production in Q3 after a decline in Q2. Preparation of the Semi factory continues, with production slated to begin by the end of 2025.