In what must be the most shocking news story of the year, Tesla CEO Elon Musk has confirmed production of the long-awaited Cybertruck has been canceled. The reason? Ongoing development costs have far exceeded the original budget. The controversial-looking EV truck is no longer a viable business case. “Very sad to say we’ve made the tough decision to cancel our Cybertruck,” Musk wrote. “I know there will be plenty of disappointed customers and all pre-orders will be promptly refunded. The decision was made in the best interest of Tesla and its future.” …

Originally, Austin was tasked with building both the Cybertruck and Model Y, but demand for the Model 3 continues to rapidly increase. Furthermore, the Cybertruck’s delayed launch and behind-the-scenes issues would have resulted in a much higher price tag than initially announced…

Another reality we think might have factored into Tesla’s decision is that legacy OEMs like Ford and GM have beaten it to the EV truck market. The F-150 Lightning’s downright affordable starting price is something Tesla can no longer match. Tesla is also anxious to enter the delivery business with vans, a market segment analysts predict will explode by the decade’s end. A Tesla source later admitted that this entire article is utter nonsense.

I have no idea when that last sentence was stuck in. Obviously an add-on because of Tesla leaks, it still explains nothing, adds nothing to the decision. I suggest commenting over at the article using the link above. Lots of folks already there.