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Musk’s Cybertruck is almost here. Really.

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Tesla’s highly anticipated Cybertruck is expected to finally make its debut on the market this spring.

But Elon Musk faces the challenge of convincing Wall Street that this futuristic pickup is more than just a gimmick.

Musk recently posted a series of Cybertruck glamor shots on his social media account, hinting that a formal announcement may be imminent. Despite the hype, key details about the Cybertruck, such as its price and final specifications, remain unknown. Concerns among Tesla investors have also risen due to the complex design of the vehicle, which could impact profit margins. This concern was exacerbated by the resignation of Tesla’s CFO, Zachary Kirkhorn, earlier in the month.

Niche vehicle

Needham analyst Chris Pierce suggested that the Cybertruck might ultimately become a niche vehicle, saying, “I don’t see it as a material driver of the stock price.” He also mentioned the minimal chance that it can outweigh investor margin concerns regarding Tesla’s existing vehicles.

Wedbush analyst Dan Ives, a noted Tesla supporter, sees the Cybertruck as somewhere between niche and mainstream within Tesla’s vehicle lineup. However, Ives believes it will be crucial for Tesla’s long-term prospects and to convince Wall Street that its ambitious endeavors are worthwhile.

The Cybertruck was first unveiled in a now-infamous event in 2019 when Musk accidentally shattered a “bulletproof” window. Its release has been delayed multiple times, but the first model recently rolled off the assembly line at Tesla’s Texas Gigafactory.

Unique design

The Cybertruck’s unique design, featuring a stainless-steel exoskeleton, has been compared to various objects, including a refrigerator on wheels, a doorstop, a Lego block, and a cartoon character from “Spongebob Squarepants.”

Even Tesla enthusiasts are growing restless due to the lack of clear information. One Tesla owner recently called on Musk to provide detailed specifications, pricing, and a new estimated delivery date for the Cybertruck. Musk responded by stating that it’s an extremely challenging product to build and that it’s unlike anything else.

Musk also warned about the complexity of the Cybertruck’s manufacturing process, emphasizing the need for precision in designing and building its parts.

The Cybertruck’s stainless-steel exoskeleton presents both a major talking point and a manufacturing challenge. Stainless steel is costly, difficult to shape, and requires specialized welding techniques. Meeting safety regulations in certain regions may also be a challenge.

Tesla has accumulated nearly two million Cybertruck reservations, but these preorders are unlikely to directly translate into sales since customers are only required to submit a $100 deposit.

Wedbush’s Ives anticipates mass production to begin around Halloween, with customer deliveries starting after Thanksgiving. Tesla’s projections indicate shipping approximately 50,000 Cybertrucks in 2023, with production ramping up to 200,000 to 300,000 units by 2024.

As for pricing, Musk initially suggested a starting price of less than $40,000 in 2019, but it’s now expected to begin at around $50,000. The dual-motor version is projected to cost $60,000, while the tri-motor version is expected to be priced at $70,000.

The entry-level price puts the Cybertruck on par with Ford’s F-150 Lightning electric truck, a decision that some find surprising given Musk’s bold claims about the vehicle.

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Large crowds protest ‘No Kings’ rallies against Trump

Large crowds rally in US cities for ‘No Kings’ protests against Trump’s perceived authoritarianism and corruption

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Large crowds rally in US cities for ‘No Kings’ protests against Trump’s perceived authoritarianism and corruption

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In Short:
– “No Kings” protests occurred nationwide against perceived authoritarianism linked to Trump, gathering over 100,000 participants in NYC alone.
– Demonstrators voiced concerns over democratic values, with bipartisan support despite Republican criticism of the movement.
Protests labelled “No Kings” took place across the United States on Saturday, rallying against perceived authoritarianism and corruption associated with President Donald Trump.
Participants of all ages gathered at over 2,600 locations, expressing opposition to Trump’s policies that they believe threaten democratic values.Banner

The events were largely peaceful, featuring costumes and festive atmospheres. Demonstrators in New York City, estimated at over 100,000, reported no protest-related arrests, highlighting the orderly nature of the gatherings.

Similar crowds emerged in cities like Boston, Philadelphia, and Seattle, reflecting increasing discontent about Trump’s actions and policies.

Public Sentiment

Protesters expressed concerns over issues such as the alleged targeting of Trump’s political opponents and militarised immigration tactics. Many participants, including military veterans and former Republicans, voiced their frustrations with the current political climate.

The rallies aimed to further the momentum from previous protests conducted on Trump’s birthday in June.

Despite minimal comments from Trump about the protests, supporters from both mainstream and progressive factions of the Democratic Party endorsed the movement.

House Speaker Mike Johnson dismissed the protests as anti-American, joining other Republicans in cautioning against the potential for heightened political tensions.

The demonstrations captured a significant segment of public sentiment, wary of shifts in governance and advocating for the preservation of democratic norms. Participants aimed to make their voices heard, emphasising their commitment to civic engagement amidst a heavily polarized political landscape.


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Oil prices hit five-year low amid oversupply fears

U.S. oil prices hit nearly five-year low amid oversupply and economic slowdown fears, benefiting consumers but alarming producers

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U.S. oil prices hit nearly five-year low amid oversupply and economic slowdown fears, benefiting consumers but alarming producers

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In Short:
– U.S. oil prices are at their lowest in nearly five years, with futures at $56.99 per barrel.
– Consumers benefit from falling fuel prices, with gasoline averaging $3.057 per gallon, about 15 cents lower than last year.
A growing surplus of crude oil is driving U.S. oil prices to their lowest levels in nearly five years.
U.S. oil futures closed at $56.99 per barrel, reflecting a 2.2% drop on the day and a 19% decline compared to a year ago. This marks the lowest price since February 2021 and comes amid fears of a global economic slowdown.The decline benefits consumers, likely leading to lower prices for gasoline and other fuel types.

Retail prices for regular unleaded gasoline averaged $3.057 per gallon, about 15 cents lower than last year. In several states, prices have fallen below $3 a gallon, with the Energy Information Administration projecting a national average of $2.90 next year.

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U.S. oil producers are facing challenges with narrowing profit margins and job losses, despite record production levels surpassing 13.6 million barrels a day. The Organization of the Petroleum Exporting Countries (OPEC) is adjusting its production levels, anticipating a rise in demand next year while aiming to regain market share from U.S. and other producers.

Future Expectations

Chinese stockpiling has temporarily masked the oversupply, with imports up 3.9% in September.

However, rising tensions in the trade war between the U.S. and China are raising concerns about weakened global oil demand amid slowing economic growth.


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Trump plans Budapest meeting with Putin on Ukraine war

Trump to meet Putin in Budapest for Ukraine war talks before Zelensky’s Washington visit

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Trump to meet Putin in Budapest for Ukraine war talks before Zelensky’s Washington visit

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In Short:
– Trump plans to meet Putin in Budapest to discuss ending the war in Ukraine.
– A day later, Trump will meet Zelensky at the White House for further diplomatic talks.
President Trump announced plans to meet with Russian President Vladimir Putin in Budapest to discuss concluding the war in Ukraine. This meeting follows a phone call where Trump described the discussion as productive.Trump’s upcoming meeting with Ukrainian President Volodymyr Zelensky at the White House is set to occur a day later, highlighting the significance of these diplomatic talks.

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During the call, both leaders agreed to have their high-level advisers meet, led by U.S. Secretary of State Marco Rubio, followed by Trump and Putin’s meeting. The dialogue reportedly impacts Trump’s previous inclination to send Tomahawk missiles to Ukraine.

Putin cautioned that supplying arms to Ukraine would jeopardize U.S.-Russia relations. Discussions will also cover U.S. restrictions on Ukraine’s use of long-range weapons against Russia.

Despite suggestions of imposing sanctions on Russia, Trump did not reveal any plans regarding this in his call summary. The conversation reportedly focused significantly on post-war trade relations.

White House press secretary Karoline Leavitt highlighted Trump’s belief in achieving peace through negotiation.

Military Strategy

Putin maintained that Russian forces are strategically positioned along the conflict lines, asserting that Russia’s military actions respond to Ukrainian strikes. He acknowledged Trump’s efforts to mediate various international conflicts, including halting violence in Gaza. Hungarian Prime Minister Viktor Orban, a Trump ally, confirmed discussions about preparations for the upcoming meeting.

Putin expressed gratitude to First Lady Melania Trump for her humanitarian efforts regarding Ukrainian children, noting plans for ongoing initiatives.


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