BREAKING NEWS

Musk suggests Tesla has 250,000 orders for Cybertruck

Musk suggests Tesla has 250,000 orders for Cybertruck
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(Reuters) – Tesla Inc <TSLA.O> has received 250,000 orders for its electric pickup truck unveiled five days ago, Chief Executive Officer Elon Musk suggested in a tweet on Tuesday.

Musk has been promoting the Cybertruck on Twitter and cryptically tweeting out updates to the number of orders the company has received since the launch late Thursday.

After more than 50 interaction on Twitter since the launch, he tweeted “250k” on Tuesday night in an apparent reference to the number of orders.

The company did not immediately confirm the figure after regular market hours.

Tesla opened preorders immediately after the unveiling and allowed potential buyers to book the truck by depositing a fully refundable $100, compared with the $1,000 it charged for booking Model 3 sedans in 2016.

Not all orders translate into sales as many are likely eventually to be cancelled and money refunded to depositors. Tesla plans to start manufacturing the truck around late-2021.

The electric carmaker received 325,000 orders for the Model 3 in the first week of bookings three years ago, and the Cybertruck could rival that figure with two days still to go for its first week of preorders.

The truck, made of stainless steel used in rockets and priced at $39,900 and above, failed to impress Wall Street last week after its “armoured glass” windows shattered in a launch demonstration and analysts argued the design would not have mass appeal.

(Reporting by Ismail Shakil in Bengaluru; Editing by Subhranshu Sahu)

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