The $40,000 Cybertruck is Officially Dead

"I think there's no way to have sort of anticipated quite the inflation that we've seen."

Oopsie

Elon Musk has a spot of bad news for his Tesla fanboys: Cybertrucks are going to end up costing more than the $40K price-point they were promised.

"I hate to sort of give a little bit of bad news," Musk told the enthusiastic crowd at Tesla's 2022 shareholder meeting this week after announcing that the long-awaited truck's "specs and pricing will be different" from the $39,900 he promised three years ago.

Ch-ch-changes

Not only will the trucks cost more — and Musk didn't specify the new price — but they might also take another year to ship, per the Tesla CEO.

"A lot has changed" since 2019, Musk said, referencing the year he first announced the Cybertruck and began taking $99 reservations for the motorized trapezoids.

"I think there's no way to have sort of anticipated quite the inflation that we've seen," he continued. "But what I can say is that the Cybertruck will be one helluva product. It's going to be like a damn fine machine."

Musk added that Tesla is purportedly "installing the production equipment, the tooling and all starting in the next couple of months" on its reserved Cybertrucks. We'll believe it when we see it — given that, thus far, everything we've seen and heard about the truck absolutely does not seem like it's ready to roll.

READ MORE: Elon Musk Has Bad News About Tesla's Cybertruck [TheStreet]

More from the Tesla shareholders meeting: Concerned Shareholders Heckled While Addressing Tesla Ethics