Tesla will have to refund deposits to many Cybertruck customers as outstanding orders exceed the number of vehicles it can build before production ends.
CEO Elon Musk confirmed the situation in a post on X, following the announcement that the electric pickup’s production line at the company’s Texas factory will be wound down.
“We will try to make as many as possible before shutting down the line in about 8 months, but will have to return deposits for a lot of people,” posted Musk.
The company is also planning to add an extra production shift to help clear its existing order backlog, but apparently, that’s not gonna cut it.
Tesla has already cancelled the Cybertruck launch in Australia and has informed the local deposit holders that their money will be refunded.
Source: Reuters