Tesla unveils Cybertruck variant, cuts Cyberbeast price to drive demand

Tesla unveiled a cheaper Cybertruck variant in ​the US and slashed the price of its most-expensive model, Cyberbeast, ‌as the electric-vehicle maker struggles to ‌find buyers for its pickup trucks.

The Cybertruck was touted by CEO Elon Musk as a futuristic competitor to mass market pickup trucks from legacy brands such as Ford, but multiple recalls and quality ‌control issues plagued the car and turned prospective customers away.

Tesla has now priced the new dual-motor, all-wheel-drive model at $59,990, making it the company’s most affordable Cybertruck yet. In response to a user post on X about the new variant, Musk said the price tag was effective only for the next 10 days.

It was not immediately clear what the model will be priced at following the limited-time offer and Tesla did not immediately respond to a request seeking clarification.

The company lowered the ​Cyberbeast’s price to $99,990 from $114,990.

With the price cut, Tesla looks to be discontinuing its “Luxe ‌Package” for the model that included Supervised Full Self-Driving and free access to its Supercharger network.

Tesla had added the package to its lineup last August when it raised the price of the pickup truck.

The head of Tesla’s Cybertruck programme, Siddhant Awasthi, announced his departure from the company in November last year amid slow sales.

 Musk has diverted his attention from EV manufacturing to other business lines, looking ​to transform ‌Tesla into a robotics and self-driving company. Tesla sales have notably sagged as it has ‌introduced fewer new models over the last several years while rivals snatch market share.

Musk’s far-right political rhetoric and the elimination of EV incentives have also alienated some customers.

The broader EV market has slowed since ‌September, when the Trump ‌administration ended the $7,500 federal tax credits.

Price cuts have ⁠become a key part of Tesla’s 2026 strategy, lowering entry prices to ‌attract more cost-conscious buyers.

Analysts have warned that a greater share of lower-priced vehicles could keep pressure on margins unless Tesla can offset the impact through reduced manufacturing ⁠costs or stronger revenue from software and services.

Musk said last month that the company ​would end production of its Model X SUV and Model S sedans and instead use the space in its California factory to make humanoid robots.

Tesla unveils cheaper Cybertruck model in US, cuts Cyberbeast price (Recasts paragraph 1 to include new model launch) Feb 19 (Reuters) - Tesla unveiled a ‌new cheaper Cybertruck model in the US ​on Thursday, priced at $59,990, making the dual-motor ‌all-wheel-drive version ‌its “most affordable” Cybertruck yet.

The company also reduced the price of Cyberbeast, its most-expensive ‌Cybertruck pickup truck model, to $99,990 from $114,990, according ⁠to pricing information on the electric-vehicle maker’s website.

With the price cut, Tesla looks to be discontinuing its “Luxe Package” for the model that included Supervised ​Full Self-Driving and free access to ‌its Supercharger network.

Tesla had added the package to its lineup in August last year when it raised the price of the pickup truck.

Prices of other Cybertruck ​models ‌were unchanged.

Earlier this month, Tesla ‌introduced a new all-wheel-drive variant of its bestselling Model Y SUV, priced at $41,990, sitting ‌above the ‌cheaper rear-wheel-drive “Standard” version.

Price cuts have become a key ‌part of Tesla’s 2026 strategy, lowering entry prices to attract more cost-conscious buyers without waiting for ​a new mass-market vehicle.

The US International Trade Commission has initiated an investigation into the automotive rules of origin under ‌the United States-Mexico-Canada trade agreement, the commission said in a statement on ​Thursday.

The probe will examine the “impact on the US economy, effect on US ‌competitiveness, and relevancy considering ‌recent technology changes,” the statement said.

The rules of origin under USMCA boosted the regional value content requirements in order for manufacturers building cars in any of the three ‌countries to qualify for free-trade status. This required North American manufacturers to source more inputs from within the USMCA region, fundamentally altering their supply chains.

The rules require 75% North American content for manufacturers to get duty-free access to the US market, and require 40% of a passenger car’s content to be manufactured in the US or Canada, based on a list of “core parts” including engines, transmissions, body panels ​and chassis components. The threshold for pickup trucks is 45%.

The ITC plans ‌to hold a public hearing later this year and will issue the report by July 2027.

Agencies