Despite Elon Musk’s statement that Tesla has over a million reservations for its Cybertruck, the electric vehicle (EV) is entering a competitive market two years behind schedule. Rivals like General Motors and Ford are scaling up EV production cautiously due to current market weakness. Tesla’s Cybertruck, priced around US$61,000, faces questions about its functionality and appeal to traditional pickup buyers.

The truck’s launch event in 2019 included a window-breaking incident, contributing to doubts about its durability. Tesla claims to have fixed this issue, but concerns remain. Some analysts argue that Tesla’s strong brand and the Cybertruck’s distinctive design might outweigh these concerns for certain buyers.

However, critics point out that, despite its futuristic appearance, the truck needs to be functionally competitive in the pickup market, where utility and reliability are paramount. The delay in delivering the Cybertruck provides Tesla with time to address concerns, expand charging infrastructure, and build interest in the unique vehicle.

Elon Musk, known for his unconventional approach and bold statements, has both promoted the Cybertruck’s utility and acknowledged the challenges in production and profitability. The success of the Cybertruck is not only crucial for Tesla’s expansion in the EV market but also for sustaining the company’s brand appeal amid increasing competition.