Musk Announces End of Cybertruck Production

GRAND RAPIDS, MI. - Elon Musk, CEO of Tesla, announced Friday, November 6, 2026, that the company will begin winding down Cybertruck production at its Gigafactory Texas around the middle of 2027. This decision aims to create space for increased manufacturing of the Cybercab, Tesla's self-driving taxi. Following Musk's announcement, Tesla's stock rose 4.7% on Friday.

Musk's statement clarifies Tesla's strategic shift towards its autonomous ride-hailing ambitions. The Cybercab, designed for low-cost production and efficiency, is central to these plans. Tesla began offering paid public rides in its Cybercab in Austin, Texas, in September 2026. Gigafactory Texas targets an installed capacity of over 125,000 Cybercab vehicles per year as of the second quarter of 2