GM - Electric shocker: GM's Chevy Silverado EV will have more range than other trucks

2023-05-19 08:13:43 ET

General Motors ( NYSE: GM ) is expected to start producing the electric Silverado pickup truck this month and deliver the first ones to customers later in the spring. Production on the RST versoin of the Silverado is expected to begin in the fall.

At a media event, General Motors ( GM ) officials stunned by revealing the Chevrolet Silverado electric truck will offer a range of 450 miles on a full charge, which is ahead of the range on competing EV trucks like the Ford ( F ) Lightning pickup, Rivian Automotive's ( RIVN ) R1T, Lordstown Motors' ( RIDE ) Endurance, and GM's ( GM ) own GMC Hummer pickup. "When you look at that range, particularly in respect to the work truck which is predominantly a fleet vehicle, we believe that gives us a competitive advantage in terms of those fleet customers," GM President of North America Rory Harvey stated. The Silverado EV could also be a future competitor with Tesla's ( TSLA ) Cybertruck for some corner of the electric truck market.

General Motors ( GM ) has revealed the Silverado EV will feature up to 785 pounds of torque, 754 horsepower, a 0-to-60 mph time of under 4.5 seconds, and towing capacity of up to 10K pounds. Notably, The electric truck is being built off GM's Utlium platform. The starting price is listed on the GM website at $39,900.

Car and Driver's early breakdown : "The 2024 Chevrolet Silverado EV resembles a more classic take on the electric pickup truck. An available midgate design allows users to fold down the wall between the bed and the cab for additional storage space, a feature that some may find reminiscent of the now-discontinued Avalanche pickup truck from the early 2000s. A large battery pack is said to provide up to 400 miles of range per charge and DC fast-charging tech can juice the battery with 100 miles of range in just 10 minutes. Dual electric motors provide standard all-wheel drive and up to 664-hp, and the Silverado EV will be capable of towing up to 10,000 pounds and hauling up to 1300 pounds of payload."

Shares of GM ( GM ) moved up 0.43% in premarket trading to $33.04 vs. the 52-week trading range of $30.33 to $43.63.

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