Tech

Tesla owners can’t resell Cybertruck without a $50,000 fine and banishment

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Only Elon Musk came up with this X expense.

Customers who purchase Tesla’s long-awaited Cybertruck are stuck with the futuristic vehicle whether they like it or not, thanks to a strict clause in the purchase agreement.

The long-teased electric truck launching Nov. 30, which looks like a rudimentary version of the Delorean from the “Back to the Future” documentary, comes with a steep financial penalty that inhibits resale for at least the first year of ownership.

“You agree that you will not sell or attempt to sell the Vehicle within the first year after the date of delivery of your Vehicle.” the company wrote in the legally binding document.

Those who violate the clause give Tesla license to take “precautionary” legal action “or demand damages in the amount of $50,000.”

If a resale exceeds $50,000, the company also gets to keep every penny, according to the agreement. Kelley Blue Book rate the unusual looking platform around $50,000 to start.

CEO Elon Musk as he unveils the Cybertruck in 2019.
AFP via Getty Images
Tesla’s Cybertruck finally goes on sale. But customers face high legal risks if they resell it.
Via REUTERS

Perhaps worst of all for some status-hungry drivers who resell: “Tesla may also refuse to sell you any future vehicles.”

This comes after Musk’s personal valuation took a brutal hit due to poor numbers from a Tesla stock call in October. Musk reportedly lost $41 billion last month and his overall net worth decreased from $234 billion to $193 billion. according to CBS.

The owner of 13% of the company even admitted at the time that “they dug their own grave” with the Cybertruck. by Business Insider.

“I want to emphasize that there will be enormous challenges in reaching the production volume of the Cybertruck and then making the Cybertruck cash flow positive; this is just normal,” Musk said.

“When you have a product with a lot of new technology or any new vehicle program, especially one that is as different and advanced as the Cybertruck, you will have problems proportional to the number of new things you are trying to solve at the same time. scale.”

Musk warned that the Cybertruck may not generate big profits right away.
UPI

Although the specifications have been kept secret since 2019, in September 2022 musk posted on its platform

However, Needham analyst Chris Pierce previously told The Post that he expects the stainless steel EV to simply be a “niche vehicle in the end.”



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