New EV Truck Could Crush Rivian and Ford’s F-150 Lightning

As an automotive consumer, you may have noticed the recent struggles in electric vehicle (EV) sales in 2024. However, this doesn’t mean that automakers are abandoning the EV market. General Motors (NYSE: GM) has recently unveiled an electric truck priced at $95,000, which might seem steep, but it could offer compelling features even at this high price point.

In a detailed analysis, Travis Hoium delves into General Motors’ announcement, highlighting why the company might have an edge over competitors like Rivian and Ford in the electric truck segment.

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It’s worth noting that Travis Hoium holds positions in General Motors. The Motley Fool, which also recommends Tesla, suggests options like long January 2025 $25 calls on General Motors. Additionally, Travis Hoium is an affiliate of The Motley Fool and may receive compensation for promoting its services. However, his opinions remain independent and are not influenced by The Motley Fool.

Like the GMC Hummer EV, the Silverado EV is also built using GM’s Ultium electric car platform. Chevy isn’t saying how big the battery is at this point, but you can reasonably expect something in the 200-kWh range. In the WT’s configuration, it translates to a claimed 510 hp, 615 lb-ft of torque, a payload of up to 1,440 pounds, and a towing capacity of up to 10,000 pounds (a max-tow package with a 20,000-pound capacity will be available at a later date). There are seven standard outlets that offer 7.2 kW of offboard power, but an optional accessory power bar increases that to up to 10 outlets that offer 10.2 kW of off-board power