Musk says Tesla will refund some Cybertruck deposits, defends decision to end production

Summary

• Tesla CEO Elon Musk announced the company will cease Cybertruck production in approximately eight months.
• Musk stated that while order rates exceed current production, the company must return deposits to many customers.
• The decision to end production is driven by the opportunity cost of the Cybertruck's complexity versus the value of incremental Cybercab robotaxi production.
• Tesla plans to utilize the factory space previously dedicated to the Cybertruck to build more two-seater Cybercabs.
• Cybertruck deliveries began in late 2023 after reservations reached 1 million, with Musk initially predicting annual sales of around 250,000 units.
• Industry experts estimate approximately 71,000 Cybertrucks have been sold since November 2023, as Tesla does not disclose specific sales figures.
• A significant portion of sales originated from Musk's other businesses, including SpaceXSI, which purchased $131 million worth of Cybertrucks in 2025.
• Another Musk company, xAI, purchased $430 million worth of Tesla Megapacks for its data centers prior to merging with SpaceX.
• Sales may see a final increase due to the vehicle going out of production, though demand is unlikely to reach previous projections.