On paper, electric trucks made sense: Take America’s longest-selling vehicles — the Ford F-150, the Chevy Silverado, the GMC Sierra, the Ram 1500 — and replace the tailpipes with a charging port.
“All the capability, status and appeal of a pickup truck without the often poor fuel economy?” Robby DeGraf, head of product and consumer insights at AutoPacific, told Business Insider. “Sounds great, doesn’t it?” »
For many truck buyers, that wasn’t the case.
Full-size electric trucks have never had the success automakers predicted, and they’re falling further behind this year. Data from Cox Automotive shows that the six EV pickup trucks it tracks sold about 32,500 units through September, down 53% from the same period last year.
The withdrawal left behind canceled trucks, production cuts and billions of dollars in electric vehicle costs.
Since 2025, GM has paid nearly $11 billion in writedowns due to its slowing pace of electric vehicle manufacturing; Ford discontinued its electric pickup, took a $19.5 billion charge; and the Ram REV never made it to production – but Stellantis still paid $26 billion in writedowns.
The electric truck industry suffered another blow on Friday: Tesla announced it would discontinue the Cybertruck.
So what happened?
The Ford F-150 was the best-selling electric pickup in the United States when it was discontinued. Scott Olson/Getty Images
In the early 2020s, Detroit automakers, inspired by Tesla’s surprise success with the Model 3 and Model Y, wanted to have their own electric vehicle options.
Ford launched the all-electric F-150 Lightning in 2022; GM followed with the Silverado EV and Sierra EV for the 2024 model year; and Stellantis planned to launch the Ram 1500 REV in early 2025. Even Tesla got in on the full-size truck party, launching the Cybertruck in 2023.
These trucks had to compete with cheaper, familiar gas-powered alternatives – and were subject to compromise.
“Pickup buyers have high expectations, and electrifying a large truck involves real tradeoffs,” said Stephanie Valdez Streaty, director of industry insights at Cox Automotive. “Buyers expect solid towing, payload, range, charging and overall utility.”
Large electric trucks need large, expensive batteries, she explained, and towing can also significantly reduce their range.
Additionally, “these full-size electric vans are and were very expensive,” DeGraff added. The Sierra EV, for example, starts at around $65,000.
A brand new bet
The Blank Slate is part of a new generation of electric vehicles. Justin Sullivan/Getty Images
Automakers have a new gamble: smaller, cheaper electric trucks that don’t compete with full-size workhorses.
Ford’s entry into this market is the Fathom, the first vehicle on its universal EV platform. Ford says the midsize truck will be smaller and simpler to build than the F-150 Lightning, with a starting price below $29,000. It hasn’t released key details, including trim levels and range figures, but production begins next fall.
Slate Auto plays an even more radical role in affordability. Its two-seat Blank Slate pickup is expected to go into production this month and starts at $24,950.
The question of whether this formula works remains open.
“If a company can come up with a smaller electric truck with a range of at least 300 miles, then I think it could work,” said Seth Goldstein, a senior equity analyst at Morningstar who covers the auto industry. “But it’s going to be more difficult than building an SUV or a sedan where you don’t need as much power.”
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