Tesla Just Launched a New EV. It’s a $1,900 ‘Cyberquad’ for Kids.
just launched a new model that no one saw coming. This vehicle, however, isn’t likely to move the stock. It might motivate Tesla-loving parents to rush to the company’s website, however, to procure the coolest gift for the holidays.
Tesla (ticker: TSLA) is now selling the Cyberquad—a four-wheeled ATV modeled after its avant-garde Cybertruck. It retails for $1,900 and is designed for kids.
“Get ready for any adventure,” begins the product description. For kids, that feels apt. The ATV has a steel frame, cushioned seats, adjustable suspension, disc brakes, and LED lights. The lithium-ion battery will provide 15 miles of range and the motor will push Cyberquad to a top speed of 10 miles an hour.
Barron’s imagines that sounds pretty cool to 10-year olds. Tesla’s recommended minimum age is eight years old.
Customers can order Cyberquad now. It begins shipping in two to four weeks, according to Tesla’s website, but orders aren’t guaranteed to arrive before the holidays.
While it may generate buzz, the Cyberquad launch probably isn’t a stock-moving event. Tesla stock was down about 0.4% in early trading Thursday, while the
Dow Jones Industrial Average
rose about 1% and 1.3%, respectively.
What investors really want is the Cybertruck, Tesla’s entry into the pickup-truck market. Deliveries are expected in early 2022, but an exact date isn’t known. Tesla didn’t respond to a request for comment about the timing.
An update about Cybertruck deliveries might come on the company’s fourth-quarter earnings conference call, slated for late January. CEO Elon Musk said he would be on that call and provide investors with an updated product road map. Tesla’s coming models include the Cybertruck, a new roadster, and a semi-truck. Down the road, Tesla wants to be selling a lower-priced EV that starts at about $25,000.
Any of those products should be fair game for Musk to discuss in the new year.
Write to Al Root at firstname.lastname@example.org