Tesla has just canceled the Cyber truck forcing many key investors to jump ship how will the stock price handle this shocking news watch the full video to find out welcome to trade daily where we break down all the best stock market news like And subscribe to keep up to date with the stock market and I really hope you enjoy this video the start of cyber truck production and the end of U.S interest rate hikes would both be major catalysts for the electric vehicle giant shares of Tesla were up by


more than three percent soon after the market opened Tuesday but as of 1 pm Eastern the shares were up by about 0.8 percent the stock moved higher after a Reuters article reported that the electric vehicle leader could begin mass production of its cyber truck by the end of 2023 also boosting Tesla's stock price was a report Monday from JP Morgan Chase's Top Market strategist predicting that the Federal Reserve could be nearly finished with its interest rate hikes Rising interest rates have weighed on


Tech stock valuations throughout 2022 and Tesla is down 35 percent year-to-date CEOs Elon Musk previously said that the Cyber truck could be the company's best product ever he originally unveiled the vehicle in 2019 but delays have pushed back its production on the third quarter earnings call in October musk said the company was in the final lap with the Cyber truck the matter of securing enough batteries have been one concern as the company looked to manufacture the truck at production scale but must said in


January that batteries likely wouldn't be the limiting factor instead he noted the main issue was that it would take some time to work through all the advanced technology going into it he also pointed to the challenge of making the vehicles available at affordable prices it appears Tesla may have solved those issues musk wants his company to manufacture at least 250 000 cyber trucks per year but it will take time to bring production up to that level for perspective Tesla produced more than 1.2 million Vehicles over the last four


quarters across its four currently available models the arrival on the market of perhaps the most highly anticipated vehicle in years along with plateauing interest rates could be huge catalysts for the top electric vehicle maker in the near term Tesla aims to start mass production of its cyber truck at the end of 2023 two years after the initial Target for the long-awaited pickup truck chief executive Elon Musk unveiled in 2019. two people with knowledge of the plans told Reuters Tesla said last month it


was working on readying its Austin Texas plan to build a new model with early production set to start in the middle of 2023. we're in the final lap for cyber truck must hold a conference call with financial analysts a gradual ramp in the second half of next year to full output for the sharp angled electric truck would mean that Tesla would not be recording Revenue until early 2024 for a full quarter of production on a new model expected as key to its growth it would also mean a wait of another year for the estimated


hundreds of thousands of potential buyers who have paid 100 to reserve a cyber truck in one of the most highly anticipated and closely tracked electric vehicle launches ever and just before we continue we're giving away a 50 Amazon gift card every single day you just need to subscribe to the channel like this video and get the Bell on also comment at love trade daily to lock in your entry winners will be contacted privately good luck now let's not waste another second and get right back into


the video Tesla did not immediately respond to a request to comment Tesla shares were up 0.4 percent after Rising as much as 4.3 percent earlier on Tuesday it has not announced the final pricing on the Cyber truck showed the production version of the vehicle or specified how it will manage the battery supply for the new model in 2019 Tesla had projected an initial price of under forty thousand dollars but prices for new vehicles are shot higher since then and Tesla has raised prices across its lineup another source said cyber truck


was designed to use Tesla's much touted 4680 batteries but guide house insights analyst Samuel Smith said Tesla has not been able to significantly scale up production of the in-house batteries which could lead to further delays of cyber trucks beyond the end of 2023 Tesla may have to significantly redesign the Cyber truck batteries to switch to Conventional 2170 batteries he added musk said last month the four to six a batteries are not expected to be any limiting factor for cyber truck or anything else he said the battery output


was growing exponentially without giving details about the production volume musk introduced cyber truck in a 2019 reveal where the vehicle's designer cracked the vehicle's supposedly unbreakable armor glass windows the company has pushed back production timing three times since from late 2021 to late 2022 then to early 2023 and most recently to the mid-2023 Target for initial production the Cyber truck launch will give Tesla an EV entrant in one of the most profitable segments of the U.S market


and a competitor to Electric pickups from the likes of Ford Motor Co and rivian Automotive both of which have launched models and still limited numbers in January musket cited shortages in sourcing components as the reason for pushing the launch of cyber truck into 2023 in May Tesla stopped taking orders for the Cyber truck outside in North America must said then the company had more orders of the first cyber trucks than we could possibly fulfill for three years after the star of production automakers


often ramp production slowly for an all-new model like the Cyber truck analysts have also cautioned that a weakening global economy will start to weigh on sales for Tesla which has so far been able to sell every car it makes musk has said he expected a coming recession would last probably until spring of 24. Hydra group The Italian company making the Giga press that will be used for die casting parts for the Cyber truck set in a LinkedIn post last week that the 9 000 ton machine for Truck Part production was packed and


ready to be shipped the post did not name Tesla Tesla has been using the gigapress to cut the cost and complexity of production of its model Y and Innovation other automakers including Toyota have studied unveiled in 2019 the all-electric truck promises a range of up to 500 miles on a charge a six foot bed and a futuristic design but it seems like the Cyber truck is finally on track and new information is showing Tesla is getting serious about production coming up next year Tesla Roddy has shared an exclusive


report sharing that Tesla plans to build the Cyber truck's battery in its Fremont California Factory in August Tesla filed for a new battery production equipment line in Fremont and Tesla referred to this portion as the CTA battery B build while Tesla plans to build the Cyber truck and gigafactory Texas the battery and pack manufacturing are not quite up to speed yet at that plan so from up will assemble the packs and ship them to Texas once packs are manufactured in Texas this could bring down production


costs and improve margins on the vehicle all battery cells are not a constraint for Tesla as of now the company will still need to ramp up production of the rest of the Cyber truck according to CEO Elon Musk it seems the Cyber truck will include the 4-680 battery cells but no official confirmation from the company has yet been released and with that we've come to the end of the video I'd like to give a huge shout out to anyone who's made it this far I hope you enjoyed the video I'd also like to make


it clear that this is a news and entertainment video not in investment advice you should always do your own research and speak to a financial advisor before making any Investments thank you all so much for your support don't forget to like And subscribe for the chance to win up to twenty thousand dollars in Amazon gift cards and we'll see you in the next video if you want more crazy trade news how about this video we did