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Tesla’s futuristic Cybertruck finally arrives—here’s why the company’s success is riding on it

November 28, 2023


In 2019, Tesla was in the happy position of being a high-volume, premium-priced leader in the global electric vehicle (EV) market. Deliveries of 367,500 cars represented 50% growth over 2018.

That included 92,550 of the mid-sized Model 3 cars and 19,450 of the larger Model S and X vehicles during the fourth quarter, implying strong future growth and producing annual revenue of US$$24.5 billion (£19.4 billion).

The same year, Tesla announced the Cybertruck. This new futuristic-looking vehicle represented the company’s first move into light/pickup trucks. Deliveries were initially planned for 2021.