A leading toy company is back with another offering that should have Tesla Inc (NASDAQ: TSLA) fans excited.
The launch follows a previous Hot Wheels Cybertruck release.
“Inspired by the original designs from Tesla’s upcoming release, we created a MEGA X Cybertruck you can build brick by brick and customize to reveal different hidden features that can only be discovered while you build it,” Mattel said.
The set has over 3,000 pieces and includes several key Tesla Cybertruck features like adjustable air suspension, armor glass windows and sharp-angled exoskeleton.
“The MEGA designers are committed – even obsessed – with making this model as true to form as possible.”
The Mega X Cybertruck is offered at a price point of $250.
“This buildable MEGA X Cybertruck is the pinnacle of our devotion and literally puts the future in your hands.”
Why It’s Important: MEGA was purchased by Mattel Inc in 2014 for $460 million. The LEGO competitor holds the No. 2 market share position in construction building sets.
MEGA has launched products through partnerships with Pokemon, Masters of the Universe, Borderlands and Microsoft Corporation’s (NASDAQ: MSFT) Halo franchise.
LEGO was sought to release a Cybertruck set under the LEGO Ideas program that features fan submissions. The fan creation gained enough votes (10,000) to reach the review stage before LEGO rejected the idea.
“Our team has thoroughly considered the possibility of releasing this project as a LEGO set according to the criteria of the LEGO Review. Unfortunately the LEGO Review Board has decided that we will not produce this project as a set,” LEGO said in a note last October.
The LEGO Idea gained over 10,000 supporters in less than two months, which could highlight demand for the Mattel launch.
MEGA could be jumping into steal the thunder away from LEGO, which passed on building a Cybertruck replica. Given the strong sales and demand for previous Mattel-related Tesla products, the company could also realize the revenue potential and chance for news stories.
Tesla toys have been popular with collectors, including previous launches from Hot Wheels and Radio Flyer. Musk was filmed autographing a replica toy Tesla car before his “Saturday Night Live” appearance.
The Tesla Cybertruck has faced several delays due to supply chain challenges.
MAT Price Action: MAT shares were down 0.16% at $19.04 at the close Wednesday. Shares of MAT have traded between $12.02 and $23.31 over the last 52 weeks.
Photo via Mattel Creations.
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