After an unforgettable launch event, years of anticipation, and a long wait, Tesla has finally announced that the global official delivery event for the Cybertruck electric pickup will take place at the Texas Gigafactory early Friday morning Beijing time. Prior to this, investment bank Wedbush released a report on Tuesday, maintaining a positive outlook on Tesla’s stock price and rating it as “outperforming the market,” with a target price of $310, while Tesla’s current stock price is $240. In the report, Wedbush’s senior analyst Dan Ives wrote that this is another historic moment for Tesla and Musk, and Wall Street is excited to see the official launch of the dual motor and tri motor Cybertruck versions, with production expected to reach 250,000 units annually by the 2025 fiscal year. Consumers are eager to know the potential pricing of the Cybertruck, but so far Tesla has not provided clear information. Ives estimates that the single motor version of the Cybertruck could be priced between $50,000 and $80,000. He pointed out that although no delivery target has been set for the 2024 fiscal year, we estimate that Tesla will produce 2,000 to 3,000 units this quarter and 10,000 units in the first quarter of next year. The initial production capacity of Tesla’s factory near Austin, Texas, is 125,000 units. Musk has previously stated that he hopes Tesla will eventually be able to produce up to 250,000 pickups per year, but this may not be achieved until 2025. Ives says the release of the Cybertruck is crucial for Tesla’s overall growth in the coming years and will prove to skeptics that Musk can successfully expand Tesla’s halo effect as more consumers choose electric vehicles. The impact of the Cybertruck on Tesla’s financial condition for the 2024 fiscal year may not be significant, but its launch reaffirms Tesla’s leadership in the electric vehicle industry. This is the first new passenger car model Tesla has released in over three years, and the company and its investors are now counting on this pickup truck to reignite consumer passion for the brand, especially as many of Tesla’s other models are aging and have undergone significant price reductions to attract buyers. Musk is also trying to temper expectations for the Cybertruck, stating that while it’s a great product, it will take a year to 18 months to become a significant positive cash flow contributor. He also mentioned that the new technology involved in the vehicle will increase manufacturing difficulty, likening the development of the Cybertruck to “digging our own grave.” In addition, stainless steel is rarely used for car bodies, partly because its malleability is generally not as good as traditional materials, and it is also more expensive. Stainless steel is also relatively heavy, especially compared to aluminum, which some car manufacturers have begun using in recent years to reduce the weight of cars and trucks. According to individuals involved in the development of the Cybertruck, the stainless steel used for the truck’s shell presents challenges in bending and handling, testing Tesla’s ability to shape it into correctly aligned body panels and avoid large gaps during installation. President of the automotive product and design consulting company The CarLab, Eric Noble, believes that “the obvious problem with the Cybertruck is the concept itself. The market does not need a stainless steel body and quirky vehicle design.”