Tesla Cybertruck unveiled

Tesla Cybertruck unveiled

Tesla CEO Elon Musk introduces the Cybertruck at an event on Nov. 21, 2019.

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Tesla CEO Elon Musk unveiled the company’s all-electric pickup, the Cybertruck, on Thursday night at one of his company’s signature promotional events in Los Angeles.

The truck is Tesla’s sixth vehicle since it was founded in 2003, and its most experimental. It will be competing in a market against the Ford F Series, which has been the best-selling pickup for more than 40 years in the U.S., followed by GM‘s Chevrolet Silverado, another formidable competitor.

The CEO previously said that Tesla intended to price its base model at under $50,000, that the truck’s styling would be “cyberpunk,” rather than traditional, inspired by two films– Bladerunner and The Spy Who Loved Me.

Musk has also previously suggested that demand for the truck may be less than demand for his company’s flagship Model S sedan and Model X SUV combined owing to its unique design.

At the event on Thursday, Musk introduced Tesla Chief Designer Franz Von Holzhausen to demonstrate how much of a beating the cybertruck could take. The design leader took a sledgehammer to both the body and side window of the cybertruck. (He shattered the window, but the hammer did not go through the toughened glass.) Musk claimed the cybertruck was bulletproof against a 9mm handgun.

Musk took several digs at Ford, the leader in the pickup category. He showed video of a “tug of war” between the F-150 and the Cybertruck. And said that in tests, the Cybertruck could accelerate

Toni Sacconaghi, Senior Technology Research Analyst at AB Bernstein, said on CNBC’s Power Lunch on Thursday, ahead of the unveiling, “The pickup market is really big, it’s about 3 million units in the US and that’s about 65% of the size of what we think the addressable market is for the Model 3 and Model Y,” referring to Tesla’s most mainstream car, an electric sedan, and forthcoming crossover SUV.

This story is developing, check back for updates.

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