Tesla to refund deposits to many Cybertruck customers as production winds down, Musk says

Tesla will refund deposits to many Cybertruck customers because outstanding orders exceed the electric pickup's remaining production capacity, chief executive Elon Musk has said, as the company prepares to end output of the vehicle next year.

Writing on X on Monday, Musk said Tesla would try to build as many trucks as possible before the line at its Texas factory shuts down, but acknowledged that many reservation holders would have to be repaid. The production line is expected to close in about eight months, with output ending completely by mid-2027 as resources shift to the Cybercab robotaxi, he announced on Friday.

The Cybertruck went on sale in late 2023 but has sold well below expectations. Musk once forecast annual sales of 250,000 units; instead, US sales fell 48 per cent last year to 20,237 vehicles. The company recently announced an extra production shift to work through the backlog of pending orders.