Bulletin
Investor Alert

Kelley Blue Book Archives | Email alerts

Sept. 27, 2021, 5:05 a.m. EDT

The first electric truck hits the road, and it’s not a Ford, Tesla or Hummer

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Ford Motor Co. (F)
  • X
    General Motors Co. (GM)
  • X
    Tesla Inc. (TSLA)

or Cancel Already have a watchlist? Log In

Sean Tucker

Electric startup Rivian has won the race to put the first electric pickup into customer hands.

“After months of building pre-production vehicles, this morning our first customer vehicle drove off our production line,” founder and CEO RJ Scaringe tweeted Sept. 14. The first Rivian built for a customer was an R1T pickup in Rivian Blue, driven off the production line surrounded by cheering and masked workers at the company’s plant in Normal, Illinois.

The 2022 Rivian R1T boasts an EPA-certified range of 314 miles. It features a separate electric motor for each wheel, creating an adaptable 4-wheel-drive system. That should give it excellent off-road ability. Prices start at $69,000.

See : Amazon-backed EV maker Rivian files for confidential IPO

Lots of electric trucks on the way

Soon, established automakers and startups aim to bring electric trucks to market. The Big Three American automakers each have their own version on the way.

Ford /zigman2/quotes/208911460/composite F +1.62% will likely be the first established automaker to ship an EV pickup. Its F-150 Lightning carries a starting price of just under $40,000 and is expected to reach dealerships as early as next spring.

General Motors /zigman2/quotes/205226835/composite GM +0.54% has several EV trucks on the way. Its  GMC Hummer pickup may be the first of those to reach the market. But the first model, a special launch trim called Edition 1, carries a sticker price of over $112,000. A (likely more affordable) electric Chevy Silverado is also on the way but has so far released only a teaser photo of the truck’s 4-wheel-steering system.

Ram has set a 2024 target date for an electric version of its own best-selling Ram 1500.

Tesla’s /zigman2/quotes/203558040/composite TSLA +3.02% utterly unique  Cybertruck carries a starting price of just $39,900 but has been delayed into 2022 at the earliest .

Several other startups plan to sell electric pickups as well, including Ohio-based Lordstown Motors and California’s Canoo . /zigman2/quotes/211334934/composite GOEV +1.11%

( Cox Automotive, parent company of Kelley Blue Book and Autotrader, is a minority investor in Rivian. )

This story originally ran on KBB.com. 

/zigman2/quotes/208911460/composite
US : U.S.: NYSE
$ 15.70
+0.25 +1.62%
Volume: 77.21M
Oct. 15, 2021 4:02p
P/E Ratio
18.12
Dividend Yield
0.00%
Market Cap
$61.72 billion
Rev. per Employee
$683,570
loading...
/zigman2/quotes/205226835/composite
US : U.S.: NYSE
$ 58.00
+0.31 +0.54%
Volume: 12.91M
Oct. 15, 2021 4:00p
P/E Ratio
6.71
Dividend Yield
0.00%
Market Cap
$83.75 billion
Rev. per Employee
$790,226
loading...
/zigman2/quotes/203558040/composite
US : U.S.: Nasdaq
$ 843.03
+24.71 +3.02%
Volume: 18.92M
Oct. 15, 2021 4:00p
P/E Ratio
439.28
Dividend Yield
N/A
Market Cap
$810.15 billion
Rev. per Employee
$445,694
loading...
/zigman2/quotes/211334934/composite
US : U.S.: Nasdaq
$ 7.28
+0.08 +1.11%
Volume: 1.65M
Oct. 15, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.71 billion
Rev. per Employee
$6,892
loading...

This Story has 0 Comments
Be the first to comment
More News In
Personal Finance

Story Conversation

Commenting FAQs »

Rates »

Partner Center

Link to MarketWatch's Slice.