Tesla Founders Back $41,520 TELO Mini-Truck, Targeting 500 Units Against Cybertruck
Updated
Updated · Forbes · Jul 23
Tesla Founders Back $41,520 TELO Mini-Truck, Targeting 500 Units Against Cybertruck
1 articles · Updated · Forbes · Jul 23
Summary
$41,520 is the starting price for TELO’s MT1 mini electric truck, which Tesla cofounders Martin Eberhard and Marc Tarpenning are backing as a niche alternative to the Cybertruck.
500 vehicles are planned in the initial run, with CEO Jason Marks aiming to reach a 5,000-a-year pace after about a year by outsourcing body production instead of building a factory.
$27 million has been raised so far, including a $20 million round last September backed by Tarpenning’s Spero Ventures; TELO expects first deliveries by late 2026 or early 2027.
260 miles of range is targeted for the base model, 350 miles for a $45,500 version, while a dual-motor trim rises to $50,000 and still undercuts the roughly $55,000 average new EV price.
Tarpenning and Eberhard say the U.S. EV market is now open to new brands and product niches, even as they criticize Tesla’s Cybertruck and broader shift toward robotaxis, robotics and AI.