Shark Tank's Kevin O'Leary says Tesla's Cybertruck has a 'really ugly look' but sees beauty in its potential margins

• Kevin O'Leary said Tesla's Cybertruck has a "really ugly look" but demand is high.
• He also told Yahoo Finance that the forthcoming vehicle has strong potential margins.

"Shark Tank" star Kevin O'Leary is expecting Tesla's Cybertruck release this year "to be a boom," despite holding some reservations about the vehicle's aesthetic.

In an interview with Yahoo Finance, he noted that the "crazy-looking vehicle" had already demonstrated its popularity two years ago when preorders surged.

"It's a very interesting vehicle. It's got a really ugly look. Ugly is interesting," he said. "And, you know, to be honest with you, I've got investments in providers that are providing technology for that truck. And we know the demand is huge."

Previous delays have kept customers waiting for the vehicle's release since 2019, but CEO Elon Musk said the Cybertruck will enter mass production later this year.

And O'Leary sees big upside on the factory floor.

"They've had so much efficiency in manufacturing costs since they announced the truck, they're probably picking up, you know, 10% to 12% more margin on that thing," he said

The sci-fi look of Tesla's forthcoming electric pickup truck is a major departure from conventional vehicle standards.

Still, pre-orders for the truck topped 1.5 million by the end of last year, and O'Leary said he is on the list.

"I want one. I think they're nuts. And I think it will be a lot of fun to drive a tank," he said.

Overall, the company is expected to have a prosperous year ahead, according to a Wedbush Securities' forecast that followed this week's annual shareholder meeting.

Apart from the Cybertruck, other tailwinds included a promise of two new products, as well as Tesla's plans to begin advertising.