It may have polarizing looks, but the Tesla Cybertruck is one of the most anticipated vehicle launches in years.
Tesla has earmarked Nov. 30 as the date that deliveries officially start but any early owners looking to cash in and flip their electric trucks better be wary.
A paragraph relating specifically to the Cybertruck in the terms and conditions section of the sales agreement buyers need to sign when purchasing a vehicle from Tesla states that the buyer agrees to not resell the electric truck for at least one year after taking delivery.
In some circumstances, Tesla will accept the vehicle being sold but with Tesla getting the first right of refusal. Tesla didn’t list what those circumstances may be, but warned that it may “demand liquidated damages from [the reseller] in the amount of $50,000 or the value received as consideration for the sale or transfer, whichever is greater.” Tesla also warned that it may block the reseller from purchasing any future vehicles from the company.
Such agreements aren’t unusual for in-demand vehicles, though they’re typically used for limited-production exotic cars. Ford famously had one for its GT supercar and filed a lawsuit against John Cena in 2017 after the actor and professional wrestler sold his car before a two-year time window, though the two parties settled out of court the following year.
Tesla mentioned in the sales agreement that Cybertruck production will be “released in limited quantity,” which will likely push demand higher. The plan is to ramp up volumes, though. CEO Elon Musk said last month the Cybertruck has over one million reservations and that Tesla aims to get production capacity up to 250,000 units per year by 2025. The Cybertruck is built at Tesla’s plant near Austin, Texas.
The Cybertruck was first shown as a concept in 2019. Production was originally planned to start in late 2021 but multiple delays put it behind schedule. Some of the delays were caused by changes to the original specification and the need to implement new technologies, Tesla has previously said.
One of the new technologies is a battery cell that’s more energy dense than what the company currently uses. It isn’t clear whether the new cell will allow Tesla to deliver more range than what the company has already announced. At the Cybertruck concept’s 2019 reveal, Tesla said the electric truck would offer battery options for more than 250 miles, 300 miles, and 500 miles. Tesla also announced a starting price of $39,900 during the 2019 reveal but this information was pulled from Tesla’s website in 2021, suggesting the Cybertruck may have a different starting price once orders start being accepted.
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