At a Glance

• Tesla CEO Elon Musk said many Cybertruck customers will have their deposits returned.

• Production of the pickup is set to end at Tesla's Texas factory in about eight months.

• The line will be redirected to the Cybercab robotaxi.

Tesla will have to refund Cybertruck deposits for many customers because orders far exceed what the company can build before it shuts down the truck's production line, Elon Musk said Monday.

Key Statements and Focus Area

• Musk on the Shutdown: "We will try to make as many as possible before shutting down the line in about 8 months but will have to return deposits for a lot of people." — Elon Musk, Tesla CEO, on X.

• Focus Area: The wind-down of Cybertruck production and its impact on customers who placed deposits.

Musk said Tesla would add an extra production shift to fulfill outstanding orders before dismantling the line next year, with the wind-down slated for mid-2027.

The freed-up resources will go toward expanding output of the Cybertruck, a vehicle central to Tesla's autonomous-driving ambitions.

Tesla began delivering the Cybertruck in late 2023, but demand has fallen far short of expectations: US sales dropped 48% to 20,237 units last year, according to Kelley Blue Book.

FYI

Musk had earlier projected that annual Cybertruck sales could reach 250,000 vehicles, more than twelve times last year's US sales figure.

The Cybercab is Tesla's planned robotaxi, which the company sees as key to its push into self-driving transport.

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