Electric vehicle maker Tesla (TSLA) has announced a starting price of $60,990 U.S. for its futuristic looking new Cybertruck.
The base model’s price is before any tax credits are applied and more expensive than the $50,000 U.S. that analysts had been calling for.
Additionally, the Cybertruck’s driving range on a single battery charge was announced at 340 miles, below the 500 miles that was expected.
Unfortunately, Tesla said that the base model Cybertruck won’t be available for a while. Instead, consumers can only buy the more expensive dual- and tri-motor Cybertruck models for the time being.
The all-wheel, dual-motor version of the Cybertruck starts at $80,000 U.S., while the high-end tri-motor “Cyberbeast” model starts at a cost of $100,000 U.S.
Analysts, investors, and consumers have been eagerly awaiting the Cybertruck since it was first announced back in November 2019.
The release of the truck had been delayed by multiple production problems.
The Cybertruck’s towing capacity has been set at 11,000 pounds. A video released by Tesla on social media showed the Cybertruck outpacing a Ford (F) F-350 truck in a hauling test.
Wall Street analysts expect about 1,500 Cybertrucks to be delivered this year and 78,000 in 2024.
Tesla’s stock has gained 122% this year and currently trades at $240.08 U.S. per share.