Business Insider reports Tesla is also slowing down Cybertruck manufacturing at its Texas factory and shrinking its production teams. Some line workers are being moved over to build better-selling Model Y vehicles, but it, too, has seen a year-over-year decline in sales as reported by the company earlier this month.

Tesla is offering big discounts and free lifetime charging with new Cybertruck, but it's likely not enough to save its steel.

Some lines are running at a fraction of their previous capacity, and a handful of production teams have been thinned out by over half, workers say.