Tesla Scores The World’s First 8,000-Ton Casting Machine For Its Cybertruck: Report
Madhukumar Warrier , Benzinga Staff Writer FOLLOW March 22, 2021 6:15am 2 min read Comments
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Tesla Inc. TSLA 1.17% has secured an order for the world’s first 8,000-ton casting machine that will be used to produce the Cybertruck, according to a report by Electrek.
What Happened: Idra, an Italy-based die casting technology company, said it has officially received an order for an 8,000-ton casting machine, as per the report. While Idra did not confirm Tesla was behind the order, the company said it won the order from a “leading global manufacturer for new energy vehicles.”
See also: How to Invest in Tesla Stock
During the conference call for Tesla’s fourth-quarter financial results in January, CEO Elon Musk said the electric vehicle maker will be using an 8,000-ton casting press for the rear body casting of the Cybertruck, Electrek reported. Idra already makes the 6,000-ton casting machine used for the Model Y.
The new machine is expected to be deployed at Tesla’s Gigafactory in Texas, where the Cybertruck will be built.
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Why It Matters: Musk has previously said Tesla wants to simplify manufacturing and increase output. The die casting technique has enabled Tesla to produce a two-piece rear and front body casting for the Model Y, as opposed to the 70-plus pieces that were required to be produced before the technique was introduced.
Musk said earlier this month that an updated version of the upcoming Cybertruck will be unveiled in the next quarter.
The highly anticipated vehicle was first unveiled in November 2019 and was put up for sale on the Tesla website for $39,900 without added incentives.
Price Action: Tesla shares closed about 0.3% higher on Friday at $654.87.
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