New Delhi, Nov. 10 -- Tesla will have to refund deposits to a large number of customers who booked its Cybertruck electric pickup, as orders exceed the company's production capacity before it winds down manufacturing next year, CEO Elon Musk has said.

"The Cybertruck order rate far exceeds our production rate," Musk said in a post on X on Monday. He added that Tesla would try to manufacture as many vehicles as possible before shutting down the production line in about eight months, but would have to return deposits to many customers.

The comments come days after Musk announced that Tesla would discontinue Cybertruck production at its Texas factory around the middle of 2027. The move is aimed at freeing up manufacturing capacity for the ...