Competition in the electric truck space is heating up, with a legacy automaker, EV pioneer Tesla, Inc. TSLA and a few EV startups all locking horns to gain an upper hand in the lucrative market.
Enter The Players: Tesla set its sights on manufacturing an electric truck as early as 2012, although the company seriously began discussing it in mid-2016. CEO Elon Musk shared a teaser image of the truck in March 2019 following the launch of the company's Model Y vehicle.
Tesla officially unveiled the Cybertruck at the Tesla Design Studio in Los Angeles in November 2019.
EV startup Lordstown Motors Corp. RIDE unveiled the prototype of its flagship Endurance pickup truck in June 2020. The company has scheduled a weeklong event from June 21-25 to showcase its truck and allow test driving.
Rivian, another EV player in which Amazon, Inc. AMZN has a substantial stake, is working on all-electric pickup truck dubbed the R1T.
Ford Motor Company F introduced its F-150 Lightning Wednesday.
Benzinga took a look at each of the trucks from the perspective of product specs, performance, availability timeline and pricing.
See also: How to Buy Ford Stock
Product Specs
Tesla Cybertruck: It comes in three variants: single-motor rear wheel drive, dual motor all-while drive and tri-motor all-wheel drive. The storage capacity is 100 cubic feet and the towing capacity ranges from over 7,500 pounds to over 14,000 pounds depending on the drivetrain. Ground clearance is up to 16 inches and the vault length is 6.5 feet.
The Cybertruck comes with standard Autopilot and standard adaptive air suspension.
Lordstown Endurance: Lordstown has stated that the Endurance pickup truck will have a unique design with the use of electric in-wheel hub motors and a proprietary battery configuration.
The truck will have a towing capacity of 7,500 pounds, a curb weight of 4,200 pounds and a total gross vehicle weight of 7,300 pounds.
The battery size is 109 kilowatt-hour. The company also said over-the-air software updates and OTA fault monitoring will be available. It comes with a three-year bumper-to-bumper and eight-year battery and hub motor warranty.
Rivian R1T: The R1T has a quad-motor powertrain and a towing capacity of 11,000 pounds. The wading depth is over three feet. The truck will come with 4G and WiFi capabilities, vegan leather seating, Rivian elevation audio and a panoramic roof. It has over 68 cubic feet of storage and can seat five.
The company plans three versions, namely a Launch Edition, Adventure and Explore.
Ford F-150 Lightning: The truck has two motors, offering instant torque to all four wheels. Ford announced three variants: the F-150 Lightning XLT, the F-150 Lightning Lariat and the F-150 Lightning Platinum.
Related Link: Tesla To Deliver Model S Plaid On June 3; Musk Calls It 'Fastest Production Car Ever'
Performance:
Tesla Cybertruck: The range is estimated to be 250 miles for the single-motor RWD, 300 miles for the dual-motor AWD and 500 miles for the tri-motor AWD. The time taken for acceleration from zero to 60 miles per hour is 6.5 seconds, 4.5 seconds and 2.9 seconds, respectively, for the three versions.
Lordstown Endurance: The Endurance truck is expected to have a zero-to60 mph time of 5.5 seconds. The AWD vehicle, according to the company, will result in an approximately 250-mile battery range equivalent of 75 miles per gallon fuel consumption due to the size and number of battery cells that can be placed in the vehicle.
Rivian R1T: The zero-to-60 mph acceleration time is 3 seconds and the range is over 300 miles.
Ford F-150 Lightning: The truck has an estimated range of 230 miles with a standard-range battery and 300 miles with an extended-range battery pack.
Launch Timeline:
Tesla Cybertruck: Tesla reiterated earlier this week that production will start in late 2021. The company expects to begin production of the single-motor RWD model in late 2021.
Lordstown Endurance: The company said in its 10-K report filed in late March that it expects to build beta and pre-production vehicles during the first half of 2021. Commercial production is expected to commence in September, with initial sales starting in late 2021.
Rivian R1T: Rivian expects to start delivering the Launch Edition in June 2021, with the Adventure and Explore scheduled to be launched in January 2022.
Ford F-150 Lightning: Ford has indicated that while it is allowing reservations immediately, orders can be placed beginning in fall 2021. It expects the first shipments to begin in the spring of 2022.
Pricing:
Tesla Cybertruck: The single-motor RWD model is priced at $39,900, dual-motor AWD at $49,900 and tri-motor AWD at $69,900. For access to full self-driving package, customers have to cough up an extra $10,000. The company has begun accepting reservations with a refundable $100 deposit.
Lordstown Endurance: Lordstown expects to price the Endurance at a base retail price of $52,500, or a net cost to the buyer of $45,000 if the currently available U.S. federal tax credit of $7,500 for the purchase of alternative fuel vehicles remains in effect.
Rivian R1T: The Launch Edition and Adventure are both priced at $75,000, and the Explore at $67,500.
Ford F-150 Lightning: Pricing starts at $39,974 for the entry model and goes up to $90,474. Ford has allowed reservations by filing out a reservation form on its website and paying a refundable $100 deposit.
Related Link: Tesla Confirms Cybertruck Production Will Start In Late 2021
Photo courtesy of Ford.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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