How electrical pickups stack up in value, vary

SAN ANTONIO — Ford Motor’s new F-150 Lightning is an electrical pickup truck. Which will appear apparent given it appears to be like like a truck and has electrical motors and a battery pack as a substitute of an engine, nevertheless it must be mentioned.

Why? As a result of a profitable battery-powered pickup is a vital step within the EV transition, for Ford and the trade at massive.

Whereas trade chief Tesla has confirmed customers will buy electrical vehicles and Rivian Automotive has proven there’s demand for electrical way of life automobiles, the F-150 is essentially the most important take a look at so far as as to if EVs can transfer from compliance automobiles and area of interest vehicles to a product that may entice extra mainstream patrons.

The electrical pickup market, although nonetheless largely unproven, goes to be essential for buyers to look at within the coming years. Vans historically have fats revenue margins and account for about 20% of automobiles bought within the U.S., in line with auto intelligence agency Edmunds.

LMC Automotive expects the U.S. electrical pickup market to extend from about 25,000 automobiles this yr to 1 million or so by 2030. There are anticipated to be 5 electrical pickup fashions accessible available on the market this yr, and that is anticipated to leap to 21 over the following decade.

Ford’s F-150 Lightning is the primary conventional pickup truck to go electrical. It is not a GMC Hummer EV “supertruck.” It is not a Tesla “Cybertruck.” It is not a Rivian R1T “journey automobile.” It is a pickup truck, electrified.

The advantages of the F-150 Lightning are much like the Hummer EV and Rivian R1T, however these electrical pickups — the one ones being bought at present within the U.S. — should not created equal. The three drive in a different way, and can attraction to completely different patrons as soon as gross sales transfer previous early adopters into extra basic, EV-curious patrons.

F-150 Lightning

The Lightning lives as much as the F-150 title in each perform and type, appearing as a bridge between the normal pickup folks know and a brand new EV. It shares lots of its design and components with its conventional sibling, other than the powertrains, some design tweaks and an elective 15.5-inch management display.

It is also priced like a standard pickup, starting from about $40,000 to greater than $90,000. That is much like Ford’s present lineup of enormous four-door pickups and according to common costs of about $61,000 for a full-size pickup, in line with Cox Automotive.

An electrical pickup for the plenty is one thing Ford was in a novel place to carry to market. Its F-Collection lineup, together with the F-150, has been the best-selling automobile in America for 40 years and the highest truck for 45 years.

The corporate got down to make an electrical model of the F-150 pickup truck, and it succeeded. The automobile operates as a full-size truck. However the electrification brings added advantages of basically instantaneous torque, elevated storage by way of an enormous entrance trunk, or “frunk,” the place an engine would historically be — and it removes the burden of getting to refill on gasoline.

The Lightning drives like an F-150 ought to, and that is not a foul factor. Ford and different automakers have more and more reworked pickups from harsh-riding work vehicles to comfy automobiles able to navigating easily on and off street.

The automobile’s massive battery supplies for a good higher journey, because it retains the automobile extra grounded and supplies a more in-depth 50-50 weight ratio for higher stability. On high of that, it supplies a good towing expertise as a result of EVs do not require transmission gear adjustments, that are particularly noticeable when towing cargo.

Whereas the Lightning is able to scaling hills or perhaps a little tough terrain, it does not match as much as the Hummer or R1T in that regard — however that is by design. It is a truck meant for mainstream patrons, not a distinct segment phase. Ford in some unspecified time in the future might provide such a hardier automobile, however this is not it.

The F-150 Lightning is able to as much as 580 horsepower and 775 foot-pounds of torque. Client fashions with its top-end 131-kWh battery begin at about $72,500 and have a variety of as much as 320 miles on a single cost. Its towing capability is as much as 10,000 kilos —between that of the Hummer and R1T. Automobiles with smaller batteries and a variety of 230 miles are cheaper but in addition provide much less efficiency.

Electrical Ford F-150 Lightning

Andrew Evers / CNBC

One of many Lightning’s most original benefits over the Hummer and R1T is its capabilities for on-board energy technology. Ford loaded the automobile with shops and a bi-directional charging system that may energy a piece website or a house within the occasion of a blackout for as much as 10 days, relying on power utilization.

Ford began delivery the F-150 Lightning earlier this month for choose fleet patrons and greater than 200,000 reservation holders. The corporate has not introduced when it is going to reopen its order financial institution, because it plans to ramp up manufacturing to 150,000 automobiles by mid-2023.


The Rivian R1T has a little bit of first-mover benefit within the electrical pickup market; manufacturing started final fall however is ramping up slowly. The R1T is succesful in each efficiency and off-roading, going 0-60 mph in about three seconds like a sports activities automobile, however it will probably scale rocks or massive hills like a Jeep SUV.

Its inside and exterior styling, with vegan leather-based and actual wooden, are extra Tesla-like stylish than off-road brute. It is also a a lot smaller automobile — about 16 inches shorter, in reality — than the F-150 Lightning, making it extra similar to a Ford Ranger or Jeep Gladiator.

Rivian gradually increases R1S SUV production, addresses supply chain challenges

That speaks to how Rivian is positioning its merchandise as “journey automobiles.” It is how Jeep has described its SUVs for years, making Rivian extra of a risk to the Stellantis SUV model than the F-150.

For now, Rivian CEO RJ Scaringe agrees, telling CNBC throughout a current interview that the three pickups are every “fairly completely different merchandise.” Cross-shopping between the Rivian R1T, the Hummer and the F-150, he mentioned, are extraordinarily low: “Clearly the target and objectives are completely different.”

Edmunds stories consumers trying on the R1T most frequently comparability store the Ford Mustang Mach-E crossover and different EVs, reasonably than different pickups.

Nonetheless, Scaringe has alluded to plans for a full lineup of automobiles at Rivian, which theoretically might embrace a bigger truck.

Rivian R1T electrical pickup truck

Supply: Rivian

Beginning pricing for the R1T ranges from $67,500 to $85,000. Automobiles at present accessible have as much as 314 miles of vary on a single cost with a 128.9-kWh “massive” battery. Efficiency variations with 4 motors mix to supply 835 horsepower and 908 foot-pounds of torque. The automobile can tow as much as 11,000 kilos — an essential metric for a lot of pickup house owners.


There is a motive GM resurrected Hummer, a model infamously widespread within the Nineties and 2000s for its extreme, gas-guzzling automobiles. Whether or not you really liked Hummers or hated them, you knew them. Which means GM had model consciousness baked in so long as the brand new EV stayed true to type for the model, and it does.

The Hummer EV pickup appears to be like like a modernized model of its descendants. It is massive, flamboyant and intensely succesful.

As a substitute of guzzling gasoline, it drains plenty of power. The electrical Hummer is reportedly the least environment friendly electrical truck of the three at 47 MPGe, an electrical automobile vary equal for miles per gallon. That compares to 70 MPGe for each the R1T and F-150 Lightning. However once more, it is Hummer, so what did you count on?

General Motors just unveiled its first all-electric Hummer—the GMC Hummer EV

The Hummer’s off-road functionality additionally stands out in contrast with the opposite two pickups, which helps clarify its decrease effectivity and greater than 9,000-pound weight.

This Hummer can scale rock climbs with ease, whereas additionally proving a easy on-road expertise and distinctive hands-free freeway driving with GM’s Tremendous Cruise system. It additionally options removing roof panels that may match into the automobile’s frunk and lots of different particular and hidden options, together with a “crab stroll” mode and sooner charging than the opposite vehicles.

GM threw all the pieces it had and extra into the Hummer when it comes to off-road and efficiency components. Its $110,000 beginning value is a testomony to that, forward of lower-priced variants anticipated within the years forward that would begin at $79,995.

GMC Hummer EV Version 1

Michael Wayland / CNBC

The present top-end Hummer, regardless of its weight, can obtain 0-60 mph in about three seconds with its “Watts to Freedom,” or “WTF” mode. It is able to as much as 1,000 horsepower and 1,200 foot-pounds of motor torque. Its vary on a single cost is as much as 329 miles with a 212.7-kWh battery pack (of which 205 is usable, GM says). It might probably tow as much as 7,500 kilos, the bottom raise of the three electrical pickups.

In contrast to with the Rivian pickup, Edmunds stories some notable cross-shopping between the electrical Hummer and its much less rugged rivals. Consumers within the Hummer have a look at the R1T and the Lightning for comparability greater than another fashions.

That crossover, although, nonetheless solely represents about 9% of these truck seekers.

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