The logo of a Tesla electric vehicle is placed on a car outside a dealership in Drogenbos, Belgium November 25, 2023.
REUTERS/Yves Herman/File Photo Acquire Licensing RightsDec 1 (Reuters) - Tesla shares (TSLA.O) fell about 2% on Friday after the highly anticipated launch of its Cybertruck left analysts concerned about the electric vehicle's steep price tag and a longer wait for significant financial payoff.
Musk has said Tesla was likely to reach a production rate of roughly 250,000 Cybertrucks a year in 2025.
At $235.45, Tesla was set to lose about $15 billion in market valuation on Friday.
"Cybertruck is more of a 'halo' product, in our view, to attract consumers to the brand for the mainstream vehicles Model 3 and Model Y," RBC Capital Markets analyst Tom Narayan said.
Persons:
Yves Herman, Elon Musk, Wedbush, Bernstein, Musk, Tesla, Tesla's, Rivian, R1T, Tom Narayan, Samrhitha Arunasalam, Chavi Mehta, Devika
Organizations:
REUTERS, General Motors, Hummer, RBC Capital, Thomson
Locations:
Drogenbos, Belgium, Bengaluru