Tesla CEO Elon Musk has stated that supply chain concerns may cause delays in the rollout of new vehicles.

Key Highlights

• Elon Musk, Tesla's CEO, has stated that supply chain concerns can stymie the deployment of new automobiles.
• Despite a global semiconductor shortage, the electric vehicle manufacturer increased auto deliveries by 87 percent last year, and sales increased by 71 percent to $53.8 billion.
• He stated plans for Tesla's first pickup truck, the Cybertruck, will be delayed until at least 2023, along with a new Roadster and a semi-truck.
• "Musk stated that he hopes to create a quarter-million Cybertrucks every year, but this will take time due to the amount of new technology that has to be added.
• "Batteries are unlikely to represent a bottleneck in Cybertruck production," he said.

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Elon Musk, Tesla's CEO, has stated that supply chain concerns can stymie the deployment of new automobiles.

Despite a global semiconductor shortage, the electric vehicle manufacturer increased auto deliveries by 87 percent last year, and sales increased by 71 percent to $53.8 billion.

He stated plans for Tesla's first pickup truck, the Cybertruck, will be delayed until at least 2023, along with a new Roadster and a semi-truck.

The rate of increase "will be determined by the capacity and efficiency of our equipment, as well as the capacity and reliability of our supply chain," Tesla added.

"Our own plants have been operating at or near capacity for several quarters as supply chain constraints became the primary constraint, which is expected to persist until 2022."

"I hope Tesla is ready to begin production of those next year," Musk stated. That is the most likely scenario. "

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This year, we will not introduce any new vehicle models. It makes no sense because we will still be confined to portions, "Musk stated during a conference call with analysts.

Additional items, he explained, "would therefore demand a disproportionate amount of attention and resources to address the increased complexity of the additional product, resulting in fewer vehicles being delivered this year."

Musk stated that he hopes to create a quarter-million Cybertrucks every year, but this will take time due to the amount of new technology that has to be added.

"Batteries are unlikely to represent a bottleneck in Cybertruck production," he said.

"I'm more concerned with how we can keep the Cybertruck affordable despite its incredible technology," he explained.

Reuters reported earlier this month that Tesla had delayed manufacturing of the Cybertruck as it altered its features and functions in response to increased competition in the electric pickup industry.

Tesla, which began producing electric vehicles with the Model S premium sedan and later debuted the Model 3, has yet to enter the lucrative pickup truck sector, which is now dominated by fuel-guzzling vehicles from US automakers.

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