The arrival of Tesla's eagerly awaited Cybertruck later this year is projected to transform the electric vehicle industry.

Co-founder of Future Fund Gary Black emphasises the importance of the Cybertruck for Tesla's overall expansion.

Black predicts that the Cybertruck will increase Tesla's total addressable market (TAM), comparing it to the Model Y debut.

and draw new clients who might eventually buy other Tesla models.

Black anticipates a significant boost in Tesla's TAM given that pickups make approximately 20% of the vehicle market.

“Tesla shorts really don't get how important Cybertruck will be to growing the entire TSLA franchise in 2024,” Black said.

He projects a staggering 53% increase in volume for Tesla in 2024, which is in contrast to the Street's volume prediction.

In late 2022, the business did introduce its Tesla Semi vehicle, although that is intended for commercial clients.