Tesla’s long-awaited Cybertruck “stays on monitor to start manufacturing later this yr at Gigafactory Texas,” the electrical car firm promised Wednesday, in its newest quarterly monetary report. 

The peace of mind comes after years of delays. Tesla first unveiled its electrical pickup truck in 2019, prompting greater than 250,000 folks to pre-order the truck inside one week. As of November, greater than 1.5 million clients have reserved a Cybertruck, in keeping with Electrek. 

As shoppers look forward to the Cybertruck, extra mainstream automobile manufacturers are beginning to debut their very own electrical pickups. Again in April, Ford started rolling out the F-150 Lightning. Earlier this month, Ram unveiled the Ram 1500 Revolution, with the promise to start manufacturing in 2024. 

Tesla did start manufacturing final yr of electrical semi vehicles, however the firm hasn’t unveiled a brand new shopper car mannequin in years. 

In its This autumn report on Wednesday, Tesla added, “Our subsequent era car platform is beneath improvement, with further particulars to be shared at Investor Day (March 1 2023).”

Tesla reported document revenues and web revenue for the fourth quarter of 2022. For your entire yr, complete income grew 51% year-over-year to $81.5 billion, and web revenue (GAAP) greater than doubled to $12.6 billion.

The corporate additionally on Wednesday defended its latest aggressive value cuts, acknowledging that promoting costs “have typically been on a downward trajectory for a few years.” 

It continued, “Bettering affordability is important to grow to be a multi-million car producer.”

Tesla is “accelerating our price discount roadmap and driving in the direction of increased manufacturing charges,” it added.