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To the surprise of nobody, the Tesla Cybertruck will cost more money than the promised $39,900 price tag revealed back in 2019. During Tesla’s annual shareholder meeting, Elon Musk confirmed the bad news, saying that “a lot has changed” since then.

Tesla unveiled the Cybertruck three years ago, promising an extremely attractive starting price of $39,900 for the single motor rear-wheel drive model and several more expensive configurations. The highest trim would come at $70,000, offering a robust triple motor AWD design with 500 miles of range and a 0-60 time of under 2.9 seconds.

Image: Tesla

During the shareholder meeting last week, Musk took questions regarding the Cybertruck and said, “It was unveiled in 2019 … a lot has changed since then, so the specs and the pricing will be different. I hate to give a little bit of bad news, but I think there’s no way to have anticipated quite the inflation we have seen and various issues.”

As we all know, production was initially supposed to start in late 2021. In typical Tesla fashion, the company announced a delay and pushed the arrival back to 2022. A few months later, that exciting $39,900 price tag disappeared from the Tesla pre-order website, suggesting a price hike was on the way.

Then, in March of this year, the company said it wanted to finish the Cybertruck design in 2022. However, a few weeks later, in April, Tesla CEO Elon Musk said the Cybertruck would “hopefully come out next year.”

During the Cybertruck announcement, Tesla also said the Full Self-Driving software would add another $7,000 to the final price, but FSD now costs $12,000. And when you consider the company has significantly increased the price of every EV it offers throughout 2022, we can only imagine how much the Cybertruck will be when it eventually gets released.

For example, last year the Model Y Long Range was $51k and now rings up at $65,990, an increase of over 22%. Following that example, the cheapest Cybertruck could cost nearly $50k, but I doubt we’ll ever see one that cheap. To make matters worse, for those wondering if the original Cybertruck pricing would be “grandfathered” in for existing pre-orders, Elon Musk said no.

No one knows when the Tesla Cybertruck will arrive, how many models will be available, and how much it’ll cost, but I bet it’ll be expensive.

Source: ReviewGeek