Here's More Evidence Tesla's Cybertruck Could Soon Move Into Production - Tesla (NASDAQ:TSLA)

Tesla Inc.’s TSLA Cybertruck is the electric vehicle maker’s next major product and this long-awaited truck is expected to move into production in 2023.

What Happened: Tesla has taken delivery of a large order of Kuka robots, Electrek reported, citing a bill of lading spotted by a Twitter user going by the handle @greggertruck.

The 66 robots indicated by the bill may not be a significant number for automotive production lines but it could be one of the several shipments planned, the report said.

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Tesla used massive numbers of German-made Kuka robots at its Giga Texas to build Model Y vehicles last year, Electrek said.

Although Tesla has signaled Cybertruck production would start in mid-2023, an earlier start date could not be ruled out given Model Y production has ramped up significantly, the report pointed out.

Model Y production per week ramped up to 3,000 units, Tesla said in a tweet on Dec. 18. The company is shooting for a goal of 5,000 units per week. Once this target is achieved, the focus could shift to Cybertruck production, Electrek said.

The Giga press, a casting machine used for putting together the Cybertruck body, has reportedly arrived in pieces at the Giga Texas factory. The parts of the 9,000-ton equipment made by IDRA Group were being assembled at the plant site now.

Why It’s Important: When it is finally launched, the Cybertruck will compete against Ford Motor Company’s F F-150 Lightning EV pickup truck and Rivian Automotive, Inc. RIVN‘s truck.

Given the disruptive potential of Tesla’s products, the Cybertruck is expected to give its predecessors a run for their money. The electric vehicle pioneer has a track record of strong execution and it could fare better with the production ramp-up.

TSLA Price Action: Tesla closed Friday’s session down 1.76% at $123.15, according to Benzinga Pro data.

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Photo: Tesla Inc.

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