Tesla Chief Executive Officer, Elon Musk, says the electric vehicle maker will refund deposits to many Cybertruck customers as outstanding orders exceed its production capacity.

Musk disclosed this in a post on X on Monday, saying the company would attempt to fulfil as many orders as possible before shutting down the Cybertruck production line in about eight months.

He said, “We will try to make as many as possible before shutting down the line in about 8 months, but will have to return deposits for a lot of people.”

The development follows Tesla’s announcement last week that it would wind down Cybertruck production at its Texas factory, with plans to redirect manufacturing resources towards its Cybercab robotaxi.

Musk had earlier said the company would introduce an additional production shift to fulfil outstanding Cybertruck orders before dismantling the production line.

The production shutdown is scheduled for mid-2027, as Tesla seeks to expand production of the Cybercab, a vehicle central to its autonomous-driving ambitions.

Tesla began delivering the Cybertruck in late 2023, but demand has fallen significantly short of Musk’s initial expectations.

According to Kelley Blue Book, United States sales of the electric pickup truck fell by 48 per cent to 20,237 units last year, far below Musk’s earlier projection of annual sales reaching 250,000 vehicles. (Arise News)