Tesla Cybertruck to hit this month; Musk to restrict resale in year one

Tesla is gearing up to deliver its highly anticipated Cybertruck at the end of this month, four years after initial orders were placed.

The electric vehicle, known for its bulletproof design, has faced delays in production at the Texas factory, leading to heightened interest and concerns about initial production rates.

The first wave of deliveries will go to customers who placed orders in November 2019 and paid a $100 deposit for the Kadima models. These early buyers will need to finalize their payments in the coming days.

While Tesla has not officially disclosed the final price, initial expectations of a $40,000 starting price have shifted, with the base version potentially not being produced initially, and hence base costs to be more like between $50,000 and $69,000.

Despite the pricing adjustments, the demand for the Cybertruck remains high, attracting not only individual buyers but also employees from rival manufacturers eager to explore and potentially reverse-engineer the vehicle for industrial espionage purposes.

Cybertruck: 1.8 million orders already

With a staggering 1.8 million orders for the Cybertruck, many enthusiasts are willing to pay a premium to secure early ownership. Recognizing this demand, Tesla aims to maintain control over the second-hand market for the Cybertruck. In an unprecedented move, the company updated its purchase agreement, restricting buyers from selling their vehicles within the first year.

Violating this clause could result in a lawsuit for $50,000, equivalent to the amount paid for the vehicle.

Buyers must seek approval from Tesla for any resale, and even if approved, the transaction will be facilitated by Tesla itself.

The company will reimburse the seller the amount they paid, minus 25 cents for each mile traveled and wear and tear costs. Notably, approval for a sale to a third party may be granted, but the buyer must adhere to Tesla's conditions.

Tesla's stringent control over the resale market extends further, with potential repercussions for those who sell the Cybertruck without Elon Musk's approval. Such individuals may face restrictions on purchasing any Tesla vehicle in the future, marking a unique and assertive move in the automotive industry.