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

Tesla CEO Elon Musk defended the company's decision to stop producing the Cybertruck, citing the high opportunity cost of its complexity and the potential for higher profits from producing Cybercab robotaxis. Musk stated that 71,000 Cybertrucks had been sold since the first deliveries began in November 2023, and that the company will try to make as many of the vehicles as possible before production ends in around 8 months. Some customers will receive refunds for their deposits, as Tesla will 'have to return deposits for a lot of people.' This decision will likely impact customers who had placed reservations for the Cybertruck, which had ballooned to 1 million at one point. Musk's reasoning suggests that Tesla's focus will shift to producing Cybercab robotaxis, which he believes will be more profitable. The Cybertruck will go out of production in around 8 months, with Tesla trying to make as many vehicles as possible before then.