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Elon Musk loses nearly $1billion in one day after Cybertruck stuff up

Author
Shannon Liao, CNN Business,
Publish Date
Sun, 24 Nov 2019, 11:57AM

Elon Musk loses nearly $1billion in one day after Cybertruck stuff up

Author
Shannon Liao, CNN Business,
Publish Date
Sun, 24 Nov 2019, 11:57AM

Elon Musk's reimagined electric version of the pickup truck, the Cybertruck, has captured some internet attention and sales. The billionaire tweeted Saturday that 146,000 orders of the futuristic vehicle are in so far, just two days after it was unveiled to a mixed response.

Musk also emphasised that people pre-ordering seem to be going for the more expensive options. He said that 41% of the orders are for the triple motor all-wheel drive that starts at $69,900, as opposed to the single motor rear-wheel drive that starts at $39,900.

He tweeted that the company had taken out "no advertising & no paid endorsement."

The news will come as some relief for Musk, who's personal net worth fell US$768 million in a single day after the truck was unveiled, according to Forbes. 

Tesla's shares fell as much as 4.1 percent shortly afterwards, when the Cybertruck's shatterproof windows smashed during a live demonstration.

Three ranges will be offered: 321km, 482km, and 805km. Pricing in the US will start at US$39,900 for a rear-wheel drive single-motor model, with a three-motor model from US$69,900. Photo / Tesla

Three ranges will be offered: 321km, 482km, and 805km. Pricing in the US will start at US$39,900 for a rear-wheel drive single-motor model, with a three-motor model from US$69,900. Photo / Tesla

The electric pickup truck prompted corners of the internet this week to make up memes over its unique appearance. The angular style has been compared to everything from a doorstop or an old Apple Mouse to a SpongeBob Squarepants character or a triangle on wheels.

Cybertruck's exterior is made from a newly developed stainless steel alloy, the same metal that's used for SpaceX rockets, according to Musk. That alloy enables the car to be "literally bulletproof" against at least smaller firearms, including 9-millimeter handguns, Musk said.

During a Thursday evening demonstration, a man with a sledgehammer hit the sides of the truck without damaging it. But the truck's supposedly unbreakable metal glass windows broke when struck with a metal ball.

Pre-orders only cost $100 to secure, so it's a lot cheaper today for someone to express interest in the cybertruck versus fully financing one. And it'll take years for the truck to get into people's hands — production starts in 2021, with the tri motor AWD version starting production a year later.

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