This Morning in Metals: Tesla unveils new stainless steel ‘Cybertruck’
This morning in metals news, automaker Tesla this week showed its new Cybertruck, Chinese President Xi Jinping said he wants to reach an initial trade deal with the U.S. and the CEO of Ace Hardware said the Trump administration’s tariffs are “manageable.”
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Tesla unveils stainless steel body Cybertruck
To much fanfare, Elon Musk and Tesla unveiled a new Tesla truck, dubbed the “Cybertruck,” at the L.A. Auto Show this week.
A single-motor, rear-wheel drive Cybertruck will come with a price tag of $39,900. Meanwhile, a dual-motor all-wheel drive truck checks in at $49,900; the tri-motor all-wheel drive model checks in at $69,900.
According to the Tesla website, production on the vehicles is expected to begin in late 2021.
“Cybertruck is designed to have the utility of a truck and the performance of a sports car,” the Tesla website notes. “The vehicle is built to be durable, versatile and capable, with exceptional performance both on-road and off-road.”
The vehicle body is constructed of cold-rolled stainless steel.
“If there was something better, we’d use it,” Tesla says on its Cybertruck specs page.
Xi hopes for deal; ready to ‘fight back’
The world continues to wait for the much-discussed “phase one” trade deal between the U.S. and China.
Reuters reported Chinese President Xi Jinping indicated he wants to reach an initial agreement and avoid a trade war but that he will “fight back” if necessary.
“When necessary we will fight back, but we have been working actively to try not to have a trade war. We did not initiate this trade war and this is not something we want,” Xi was quoted by Reuters as saying during a forum in Beijing.
Ace CEO says U.S. tariffs ‘manageable’
During a CNBC interview this week, Ace Hardware CEO John Venhuizen said the Trump administration’s tariffs are “pesky” and “frustrating” but “manageable.”
Keep up to date on everything going on in the world of trade and tariffs via MetalMiner’s Trade Resource Center.
According to the CNBC report, Venhuizen earlier this year estimated approximately 12-15% of the hardware company’s business was impacted by the escalating trade conflict between the U.S. and China (which has resulted in hundreds of billions worth of tariffs in both directions).
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