Tesla to refund Cybertruck deposits for many buyers, Musk says orders exceed production

Tesla will have to refund Cybertruck deposits for many customers as orders far exceed production capacity, CEO Elon Musk said, following last week’s announcement that the electric vehicle maker is winding down the pickup truck’s production at its Texas factory.

“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 billionaire said in a post on X on Monday.