Tesla will not be launching output of the Cybertruck EV pickup this year as it focuses on increasing capacity at current plants in California and China and begins production at new factories in Texas and Germany, CEO Elon Musk said Wednesday.
"We will not be introducing new vehicle models this year," Musk said on the company's fourth-quarter earnings call. "It would not make sense because we'll still be parts constrained."
Musk said the company is focused on optimizing a limited supply of computer chips that operate basic vehicle functions such as electric seats and window switches, and that introducing new models and new complexity would actually reduce vehicle output.