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Daily Newsletter

13 October 2023

Daily Newsletter

13 October 2023

Tesla sourcing Cybertruck material from Finland – report

Materials will be shipped to assembly plant in Texas

Graeme Roberts October 12 2023

Tesla is sourcing some stainless steel panels for the exterior of its new Cybertruck from Finnish supplier Outokumpu, which has worked to accommodate the electric vehicle’s unconventional design, according to Bloomberg sources.

The anonymous sources said the materials will be shipped to Tesla’s assembly plant in Austin, Texas, marking a major product shift for Outokumpu.

The Helsinki based supplier is Europe’s largest producer of stainless steel and well known for working with automakers on exhaust systems, Bloomberg said.

Tesla could be sourcing the materials from Outokumpu’s plant in Calvert, Alabama, and may be using more than one supplier, the Bloomberg sources said.

Outokumpu declined to comment to Bloomberg and Tesla didn’t respond to requests for comment.

High upfront costs could be detrimental towards the growth of the off-highway EV market

The global off-highway electric market is expected to grow at a CAGR of 17.4% by 2030, per GlobalData. Despite the strong growth, high upfront costs may pose a challenge. Due to the high capacity of these vehicles, they consume large amounts of power from a number of battery packs installed on the vehicle, whose high cost in turn adds to the cost of the vehicle, thereby increasing the initial cost. However, governments worldwide are offering subsidies and tax exemptions in order to help customers to counter the initial purchase cost.

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