The Cybertruck, the very first pickup truck ever made by the electric vehicle carmaker, remains the most anticipated vehicle of recent years. Elon Musk, the Chief Executive Officer, has confirmed that the first deliveries will take place later this year. 

But he pleasantly surprised shareholders by giving information on the Cybertruck's production targets.

"There will be an S curve of production," the billionaire told shareholders. "So it'll be slow at first and then ramping up and I guess we'll see what the demand is like. We're likely to do probably a quarter million a year I think, maybe more."

He added that the production target will depend on the demand.

'As Many as People Want And Can Afford'
"We don't just need to ramp up production, but we also need to improve the production cost efficiency, which is going to be also a very hard thing. But I'd say a quarter million a year is a reasonable guess," he argued.

He did not rule out Tesla producing more than 250,000 units of Cybertruck per year. This figure could even be doubled.

"It might be 500,000. I don't know but we'll make as many as people want and can afford," he said, warning that the Cybertruck may not be affordable because of the manufacturing cost.