Elon Musk 'is fearful Tesla is digging its own grave with troubled Cybertruck' - as analyst says it would be cheaper to CANCEL production of the stainless steel vehicle

Elon Musk fears Tesla is 'digging its own grave' with polarizing pickup Cybertruck - with some experts claiming it would be cheaper for the company to cancel production of the stainless steel vehicle altogether. 

The first Cybertrucks are set to make their official launch next week, years after the unconventionally-shaped vehicle was unveiled in 2019 and initially scheduled to be delivered by 2021. 

CEO of Tesla, Musk, blamed production delays on the price of batteries and the decision to clad the futuristic looking truck in stainless steel alloy.

‘We dug our own grave with the Cybertruck. It is one of those special products that comes along only once in a long while,' he said on an earnings call earlier this year.

'And special products that come along once in a long while are just incredibly difficult to bring to market to reach volume, to be prosperous.’

During the call Musk said it is going to take 12 to 18 months of 'blood, sweat and tears' to reached the required production volume.

Jefferies analyst Phillipe Houchois suggested the electric vehicle company should cancel production of the truck, claiming it would be better for Tesla shares reported Investing.com.

'With 2024 already a lost year for growth, it would help Tesla refocus on an edge that was built on simplicity, scale and speed.' 

Other industry experts said part of the Cybertruck problem is that it is designed for a market that does not exist. 

Eric Noble, president of The CarLab, an automotive product and design consulting firm told Bloomberg: 'The problems that are very evident with the Cybertruck are problems with the concept itself.'

'The market wasn’t asking for a stainless steel finish, wacky bed configuration, wacky roof line or wacky side visibility. Those are all answers to a question that the pickup truck market wasn’t asking.'

The first Cybertrucks are due to be presented to customers on November 30 at a special live-streamed event at Tesla’s Gigafactory in Austin, Texas, with Musk presenting.

Musk revealed in a Tesla earnings call that full mass production of the vehicle would not begin until 2024.

Musk said on a conference in October : ‘We’re in the final lap for Cybertruck.’

Up to 1.5 million buyers are thought to have already paid $100 to reserve a Cybertruck, which is one of the most highly anticipated electric vehicle launches ever.

It's not clear when these buyers will receive their vehicles, as display models head to stores.

The vehicle is an all-electric truck with an angular body and is expected to cost from $50,000.

Musk was left embarrassed after one of the truck’s windows smashed during its launch in 2019.

He has said that the company aims to produce a quarter of a million trucks a year by 2025, but said that the vehicle’s unique design means the company faced challenges in scaling production.

Cybertruck has an estimated battery range of up to 500 miles, and will be able to accelerate from 0-60mph in 2.9 seconds.

Musk has blamed battery supply issues for the repeated delays of the vehicle, saying each Cybertruck would have cost a million dollars had it gone on sale in 2021. 

The new vehicle has had more than 1.5 million pre-orders, according to TCD, with analysts predicting it could change the car market.