Tesla is buffing Foundation Series badges off Cybertrucks to sell them as regular trucks
Tesla is turning some of its Foundation Series Cybertrucks into regular Cybertrucks to sell them and sending hundreds of US Cybertrucks to be homologated in Canada as it is having issues selling them in the US.
There have been several signs lately that Tesla has worked through its Cybertruck reservation backlog and it is now having some demand issues.
Earlier this month, we reported that Tesla has told employees working on the Cybertruck production line at Gigafactory Texas to take a few days off.
Tesla also reduced lease pricing and directly discounted the Cybertruck by adding it to its referral program.
There have been many several Cybertrucks in inventory available for immediate delivery, including many Foundation Series Cybertrucks:
Foundation Series were the first Cybertrucks produced and meant for reservation holders. Tesla added $20,000 to the price and bundled a bunch of features and accessories together.
In October, Tesla switched production to regular Cybertrucks, which are cheaper, but we now learn that Tesla is still stuck with many Foundation Series trucks.
The automaker is now even planning on de-Foundation Series some Cybertrucks, according to a source familiar with the matter and documents obtained by Electrek.
On top of the $20,000 bundle of features and accessories that Tesla is adding to the Foundation Series Cybertruck, the vehicles also have special laser etched badging outside of the vehicle and Foundation badging inside on the dash.
Tesla is sending the Cybertrucks to service and collision centers around the US to have those removed in order to sell them as regular Cybertruck for $20,000 less.
Sources familiar with the matter also confirmed that Tesla plans to modify over 800 Cybertrucks to homologate them for the Canadian market and ship them to Canada, where Tesla believes they have a better chance to sell them.
All these efforts are putting more pressure on Tesla’s service and collision center workforce – resulting in longer wait times for owners.
Electrek’s Take
The Cybertruck quickly became the best-selling electric pickup truck in the US. That’s an impressive feat, but I think many Tesla fans were too quick to call the vehicle program a success based on that fact.
Cybertruck achieved that thanks to years of pent-up demand and over a million reservations. Then, it went through its entire reservation backlog in less than a year and with about only 40,000-50,000 deliveries.
I think Tesla is clearly having some issues selling the Cybertruck in the US now and didn’t properly gage the demand for the Foundation Series.
Next year will be the real test for the Cybertruck program. We will see how it fair in the market without years of backlog.
Tesla will have the cheaper $61,000 RWD Cybertruck, which will help with demand, but I still think Tesla might have issues having enough demand to sell 250,000 per year, which was Tesla’s goal. Musk even suggested that it could go up to 500,000 per year, but that sounds impossible now.
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Chinese carmaker XPeng is getting perilously close to bringing its AeroHT consumer eVTOL concept to market, thanks to a $250 million Series B round that’s set to accelerate the company’s modular “flying car” production plans.
XPeng subsidiary AeroHT had its first successful proof of concept test flight ahead of the brand’s annual 1024 back in 2023, where the company unveiled a pair of flying car designs. The X3 is an actual flying “car” that can drive, park, and take off on its own, and a second, modular eVTOL that folds up into the back of an electric van called the Land Aircraft Carrier.
That vehicle pair, shown at CES in January, was set to begin production this year, with the eVTOL component set to begin production in 2026 – and that’s looking a lot more likely thanks to the new infusion of capital!
AeroHT at CES 2025
Xpeng Aeroht raised $150 million in Series B1 funding last August, before launching its Series B2 funding round. The most recent announcement that the company has secured an additional $100 million in its Series B2 funding round brings the total amount raised to more than $750 million, with a $1B pre-revenue valuation.
CNEVPost reports that company aims to establish itself as a commercial pioneer in urban air mobility ahead of a potential IPO – and may get there sooner than later, thanks to several hundred pre-orders at the $280,000 projected price.
Electrek’s Take
Scooter Doll said it best, writing, “this footage (of the AeroHT test flight) is as scary and concerning as it is exciting and awe-inspiring.” Which is to say that these things are real, they seem like they’re getting built, and they seem like they’ll sell well enough to convince at least one or two remaining boomers that the flying car they’ve been promised their whole lives is – finally! – coming to market.
Here’s hoping.
SOURCE: Xpeng, via CNEVPost; gallery photos by the author.
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Flooring manufacturer Beauflor USA just turned on the biggest rooftop solar system by capacity in metro Atlanta — and it’s now powering part of its Georgia factory.
The new 1,040 kW system in Cartersville officially beats metro Atlanta’s previous rooftop solar record of 1,034 kW. The new array produces enough energy to power more than 100 homes. The system is expected to cover about 10% of Beauflor’s electricity needs and cut its carbon emissions by about 920 metric tons annually.
“This solar installation represents our commitment to sustainable manufacturing practices while making sound business decisions,” said Emile Coopman, continuous improvement manager at Beauflor. He added that the system is designed with room to grow: “This is the first step toward more renewable energy.”
The company partnered with Cherry Street Energy to install the nearly 2,000-panel system, which was completed in less than four months. Cherry Street invested $1.8 million into the project and is covering all construction and maintenance costs through a 30-year energy procurement agreement. Beauflor will buy solar power directly from Cherry Street, allowing it to avoid upfront capital costs while still lowering its energy bills.
“As Georgia’s manufacturers ramp up production amid rising costs for grid energy, sophisticated operators seek ways to quickly and sustainably address their energy needs,” said Cherry Street CEO Michael Chanin. “On-site solar with no capital expense delivers just that: reliable, affordable electricity.”
Chanin added that the system’s power output is especially impressive: “The previous record-holder for metro Atlanta’s largest rooftop solar required over 4,000 panels. We’re using less than 2,000 to reliably generate even more power.”
Read more: This is New Jersey’s largest high-rise residential rooftop solar array
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Jack Dorsey, co-founder and chief executive officer of Twitter Inc. and Square Inc., listens during the Bitcoin 2021 conference in Miami, Florida, on Friday, June 4, 2021.
Eva Marie Uzcategui | Bloomberg | Getty Images
Block shares jumped more than 10% in extended trading on Friday, as the fintech company gets set to join the S&P 500, replacing Hess.
It’s the second change to the benchmark this week, after S&P Global announced on Monday that ad-tech firm The Trade Desk would be added to the S&P 500. Trade Desk is taking the place of software maker Ansys, which was acquired by Synopsys in a deal that closed Thursday.
Hess’ departure comes just after Chevron completed its $54 billion purchase of the oil producer, prevailing against Exxon Mobil in a legal dispute over offshore oil assets in the South American nation of Guyana.
Block will officially join the S&P 500 before the opening of trading on July 23, according to a statement from S&P. Stocks often rally when they’re added to a major index, as fund managers need to rebalance their portfolios to reflect the changes.
Most alterations to the S&P 500 take place during the index’s quarterly rebalancing. However, in the case of the closing of an acquisition, a company can be removed from the index and replaced off schedule. Last week monitoring software company Datadog took Juniper Networks’ place in the S&P 500 as part of the index’s quarterly change.
Block’s addition brings further tech heft to an index that’s been steadily moving in that direction in recent years, reflecting the market cap gains of companies across the sector. Block, which gained popularity as Square due to the rapid growth of the company’s payment terminals, has expanded into crypto, lending and other financial services.
Founded by Jack Dorsey in 2009, Square changed its name to Block in 2021 to emphasize its focus on blockchain technologies.
Block shares are down 14% this year, underperforming the broader U.S. market. The Nasdaq is up more than 8%, while the S&P 500 has gained 7%. Still, with a market cap of about $45 billion, Block is valued well above the median company in the index.
In May, Block reported first-quarter results that missed Wall Street expectations on Thursday and issued a disappointing outlook, leading to a plunge in the stock price. Block’s forecast for the second quarter and full year reflected challenging economic conditions that followed sweeping tariff announcements by President Donald Trump.
“We recognize we are operating in a more dynamic macro environment, so we have reflected a more cautious stance on the macro outlook into our guidance for the rest of the year,” the company wrote in its quarterly report.
The company is scheduled to report second-quarter results after the close of regular trading on Aug. 7.
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