People take pictures of the newly unveiled all-electric battery-powered Tesla's Cybertruck at Tesla Design Center in Hawthorne, California on November 21, 2019. (FREDERIC J. BROWN/GETTY IMAGES)
Tesla, Inc.’s(NASDAQ:TSLA) Cybertruck launch is generating a storm of excitement on social media, and one bullish investor is adding to the fervor.
The Tesla Cybertruck is on display at the Tesla Giga Texas manufacturing facility during the “Cyber Rodeo” grand opening party on April 7, 2022, in Austin, Texas. – Tesla welcomed throngs of electric car lovers to Texas on April 7 for a huge party inaugurating a “gigafactory” the size of 100 professional soccer fields. (SUZANNE CORDEIRO /GETTY IMAGES)
Gary Black from Future Fund recently reiterated his positive stance on the electrified pickup truck, calling it “big, bold, and gorgeous” during a CNBC interview.
With a staggering 1.9 million pre-orders, Black believes the Cybertruck, priced below $50,000, will become a “rolling billboard,” captivating onlookers and driving even more orders for other Tesla models.
“And people going to see it, they’ll be like, wow!” he said, adding that people will go to the website and order a Model 3 or Model Y or Model S or even a Cybertruck.
He predicts the Cybertruck won’t cannibalize existing products as it targets pickup truck enthusiasts in their 40s and 50s.
“So it’s going to be a home run for Tesla, and it’s going to really catapult the stock,” he said.
The Cybertruck’s impressive specs add to its appeal, Black said, adding that it boasts incredible power, going from 0 to 60 mph in just 2.5 seconds and matching an F-150 pickup truck’s towing capacity.
“I’m a big guy, I’m 6′ 2″ you know, and I stand next to it, and the thing just dwarfs me. It’s huge, but it’s beautiful when you look at it,” he said.
“There is nothing else on the market like it.”
With a range of 300 to 500 miles, depending on the trim, the vehicle’s massive battery offers exceptional value for pickup truck owners.
The Cybertruck’s maximum range of 500 miles will be the most of any EV truck and all of other EVs.
Black envisions the Cybertruck’s success not only in the U.S. but also in Europe and Asia, creating a halo effect for Tesla’s entire lineup, much like the Model Y launch did in 2020.
Its launch, according to Black, will have the same effect as the Model Y launch, which in 2020 pushed up volume growth from 36% in 2020 to 87% in 2021 and the stock seven-fold.
The Cybertruck is expected to enter the market in 2024 where it will compete with other EV trucks including the Ford F-150 Lightning, Rivian R1T, Chevrolet Silverado EV, GMC Sierra EV, and the GMC HummerEV Truck.
Consumers can place a $100 deposit on the Tesla website when ordering the Cybertruck.
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