Elon Musk reveals the reason for the delay in the production of his electric truck

Tesla CEO Elon Musk has revealed that each Cybertruck would literally cost a million dollars apiece or more if Tesla started producing the futuristic car now, adding that production of its electric truck is being delayed until sometime in 2022 due to a battery shortage.

The statement was made during Tesla's second-quarter earnings call, which highlights the company's work to ramp up production of the next generation of 4,680 battery cells that will be used in the Cybertruck.

Tesla can produce very little Cybertruck, which has led to an expected retail price of $40,000 to $70,000.

Drew Baglino, the company's senior vice president of power engineering, noted that the Cybertruck is still in its initial "alpha" stages and that only the basic architecture has been completed, but that Tesla plans to move to the experimental stages later this year.

Baglino also said that Tesla's battery-cell suppliers are on track to double their production in 2022, Musk's announcement leaves about 1 million pre-orders, each placing a $100 refundable deposit, waiting, as Tesla said the Cybertruck will hit the market this year when it was revealed. For the first time in 2019.

Although the company has successfully validated the battery's performance and life, it still has more work to do in order to increase production.