Why EV Makers Are Paying Special Attention to Electric Pickup Trucks

Over the past decade, electric vehicles have slowly left the realm of obscurity and entered the mainstream consciousness. They are now poised to take over the roads, with several governments pledging to phase out the production of internal combustion engine (ICE) vehicles in favor of EVs over the next couple of decades. As the nascent EV industry spreads its wings, several EV makers have their sights on one particular vehicle type: the electric pickup trucks.

Tesla shocked the world when it announced its new electric pickup, the Cybertruck, back in 2019. General Motors has invested quite a bit on a flashy ad that was played during the World Series touting its new electric Hummer, and Rivian, Lordstown Motors Corp. (NASDAQ: RIDE) and Nikola have all announced their own electric truck models. Most of these vehicles will not be available for quite some time. GM’s electric Hummer will debut next fall, the Rivian R1T will hit the roads in June while the Lordstown Endurance will be available sometime in 2021.

Even with all the noise about electric pickup trucks, no one seems to be asking for them, at least according to Jessica Caldwell, executive director of Insights at Edmunds, who wonders whether consumers actually need a pickup equipped with an electric motor. If consumers aren’t interested in the electric pickup, why are EV makers paying such close attention to electric pickup trucks?

Josh Tavel, GM’s lead engineer for electric vehicles, says that its target demographic is outdoor adventurers, or at least people who like the look of an outdoor adventurer. The Hummer, for instance, is somewhat of a statement vehicle, and GM has stuffed the electric version with enough technology to make car nerds and gearheads happy. Convince these consumers to switch their internal combustion engines for an electric motor, and the everyday driver might follow suit.

Electric vehicles are a marvel; they run on clean energy, produce zero emissions at the tailpipe, and have so few moving parts that maintenance costs are substantially lower than ICE vehicles. However, the upfront cost is usually too high for most consumers, and that’s where electric pickups come in. Since they tend to cost more and are usually more profitable, manufacturers can easily “hide” research and development costs into purchase prices without raising eyebrows.

Additionally, pickup trucks are America’s most popular car. An average driver is more likely to be driving a pickup truck than a sports car or muscle car, and EV makers have noticed that. Pickups appeal to the widest possible demographic, and tapping into this market will ultimately help the EV industry flourish.

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