Elon Musk has had a rough week. His nearly half a billion dollars in midterm spending on Republican candidates went to waste as a blue tsunami swept the nation. Stocks for his companies Tesla and SpaceX fell in the wake of the election. And to top it off, Musk announced that Tesla would be “winding down” production of its infamous Cybertrucks by the middle of 2027.

Now, Musk announced another layer to Cybertruck’s discontinuation: It will require Tesla to issue refunds to “a lot of people” who’ve ordered the vehicle and won’t receive one.

In a post on X, Musk wrote that shutting down Cybertruck production has little to do with the sci-fi-inspired truck’s profits (or lack thereof). Rather, it’s a shift to prioritize the brand’s newest vehicle, the autonomous Cybercab, he claimed.

“The Cybertruck order rate far exceeds our production rate,” Musk wrote. “We will try to make as many as possible before shutting down the line in about 8 months, but will have to return deposits for a lot of people.”

“This is not a case of Cybertruck being unprofitable, as has been misreported by legacy media, but rather that the opportunity cost of the complexity of Cybertruck is vastly outweighed by the value of incremental Cybercab production,” he added.

The Cybertruck order rate far exceeds our production rate. We will try to make as many as possible before shutting down the line in about 8 months, but will have to return deposits for a lot of people.

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