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There is a worldwide pandemic going on leading to the deepest recession ever, but according to analysts Wedbush Securities this has not slowed down interest in Tesla’s Cybertruck EV.
The last official number we have heard was 250,000 pre-orders in November 2019, a week after the launch of the vehicle, but according to Wedbush Securities analyst Dan Ives Tesla now holds up to 650,000 Cybertrucks pre-orders, worth up to $40 billion.
Of course, the barrier for entry for a pre-order is pretty low, at only $100, but that still puts $65 million in Tesla’s pocket.
Tesla is set to start production of the Cybertruck in 2021, starting with the higher-end dual-motor and tri-motor versions.
Elon Musk has said the Cybertruck will be Tesla’s most popular model, and it is likely it will take years to catch up on all the pre-orders, depending of course if the economy makes a reasonable recovery.
Of course, it is doubtful if even this level of interest can justify $184 billion market cap, but then Tesla is hopefully just getting started.