Tesla’s long-awaited Cybertruck “stays on monitor to start manufacturing later this yr at Gigafactory Texas,” the electrical automobile 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 customers anticipate 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 client automobile mannequin in years. 

In its This fall report on Wednesday, Tesla added, “Our subsequent era automobile platform is below improvement, with extra particulars to be shared at Investor Day (March 1 2023).”

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

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

It continued, “Enhancing affordability is important to turn out to be a multi-million automobile producer.”

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