Tag: delays

  • Tesla overcomes setbacks, produces first Cybertruck after two years

    Tesla overcomes setbacks, produces first Cybertruck after two years

    Tesla announced via a tweet that its inaugural Cybertruck has been successfully manufactured at the company’s Austin, Texas plant, marking the end of a two-year delay.

    Back in 2019, Tesla founder Elon Musk introduced the pickup truck during a revealing event where the vehicle’s designer unintentionally demonstrated a flaw in the supposedly indestructible “armour glass” windows.

    Since then, the production timeline has faced multiple setbacks, with Musk attributing the delays to component sourcing shortages, leading to a rescheduled Cybertruck launch in 2023.

    During a shareholder meeting in May, Musk expressed Tesla’s ambition to produce up to 250,000 Cybertrucks annually, depending on market demand.

    With the introduction of the Cybertruck, Tesla is poised to enter one of the most lucrative sectors of the U.S. market, directly competing against electric pickups from industry giants such as Ford Motor and Rivian Automotive.

    Although these competitors have already released limited numbers of their own electric truck models, Tesla’s entry into the market is highly anticipated. According to a Reuters report from last year, Tesla aims to initiate mass production of the Cybertruck by the end of 2023.

  • Pakistan’s petrol relief proposal fails to convince IMF, causing further delays

    Pakistan’s petrol relief proposal fails to convince IMF, causing further delays

    The International Monetary Fund (IMF) has asked Pakistani authorities to provide additional information about a petrol relief package, which has caused further delays in the signing of a staff-level agreement.

    The petroleum ministry’s cross-fuel subsidy proposal was initially rejected by the Fund, which argued that more details are needed to verify its sustainability.

    The Ministry of Finance has distanced itself from the plan, which was announced without the IMF review mission’s knowledge, and has advised the Ministry of Petroleum to withdraw the proposal and work with the Ministry of Finance to iron out the policy details before approaching the IMF for the next review.

    According to The News, Minister of State for Finance, Dr Aisha Ghaus Pasha, has reportedly called the petrol subsidy plan “not workable” and clarified that there is no suggestion of subsidies on petroleum products. The Petroleum Division had suggested cross-subsidies on petroleum products, which is not feasible, she said.

    The talks with the IMF are ongoing, with the only remaining issue being the lender’s confirmation of external financing from bilateral countries, including Saudi Arabia and the UAE, which is currently underway.

    Pasha indicated that financial assistance is expected from bilateral friends soon, which will help finalize the staff-level agreement with the IMF.