Technology · Austin, Texas · United States of America · November 6, 2026

Tesla to wind down Cybertruck; Musk firms lose $420 billion in value

Reported by 4 outlets · first reported Nov 5, 10:20 PM ET

Elon Musk said Tesla will wind down Cybertruck production in Texas by mid-2027. The factory space will go to the Cybercab, a driverless taxi. Tesla and SpaceX together lost more than $420 billion in market value after the midterms.

Why it matters

Tesla is shifting from a niche pickup to autonomous taxis.

Background

The Cybertruck drew a following but never reached mass sales.

The story so far

1. Nov 4Elon Musk's $446 million midterm spending fails
2. Nov 6Tesla to wind down Cybertruck; Musk firms lose $420 billion in value
3. Nov 7Tesla to wind down Cybertruck production

Follow the whole story →

Sources

• CNBC ↗Nov 6, 10:06 AM ET
• CNBC ↗Nov 5, 10:20 PM ET
• BBC News ↗Nov 6, 4:49 PM ET

This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.

See it on the globe →All of Nov 6's stories