Elon Musk first started talking about Tesla's (TSLA) EV pickup, the Cybertruck, in late 2019. But the boxy, alien-looking vehicle has faced a series of delays in production. Now, the truck is expected to come out some time in 2023.
And when it does, Shark Tank investor Kevin O'Leary thinks it will be exceptionally successful.
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"There is no company yet that's transitioned to the effectiveness and efficiency and productivity that Tesla has around drive train, around engine, around chip sets, around batteries," O'Leary, speaking to Yahoo Finance May 18, said. "There's a moat around Tesla because it was the first mover, but they've maintained their share through innovation."
Despite the criticism Musk faces on a pretty regular basis for his chaotic, often divisive Tweets, Mr. Wonderful said that people who want an EV still want a Tesla.
The company remains far ahead in its deliveries of electric vehicles even as legacy and new vehicle makers struggle to catch up.
"What they've got that no one else has is a 100 percent focus on EV. They're not dealing with legacy engines of any kind, and so you have a much more productive company," O'Leary said.
Speaking about the Cybertruck, he said that it will be a "boom" for Tesla "because that crazy-looking vehicle has already shown it's popularity in pre-orders two years ago."
"I want one," he added, "I think they're nuts, and I think it would be a lot of fun to drive a tank. It's got a real ugly look -- ugly is interesting."
