General Motors Co (NYSE:GM) on Wednesday released a short video featuring an electric version of its GMC Sierra.
What Happened: The 18-second clip named “shock and awe” teased the electric pickup and showed only the front end.
The legacy automaker did not provide more details but said a full reveal for the truck would be out next year. The pickup is expected to go into production in 2023.
This is the first time the Detroit, Michigan-based company has officially talked about an electric variant of the GMC Sierra.
See Also: GM Confirms It's Working On A Third Electric Pickup And It Will Be A Full-Size Truck
Why It Matters: A lot is at stake when it comes to electric pickups, as U.S. automakers are lining up newer models in the category to cash in on the popularity of the gas-powered trucks.
GM is days away from delivering the electric Hummer truck and sports utility vehicle, with a 329-mile range. The above $100,000 electric Hummer has secured over 125,000 “handraisers” and about half of those have booked the vehicle.
The Detroit-based legacy automaker is boosting investments to switch 40% of the company’s U.S. volume to battery electric vehicles by the end of 2025.
Legacy rival Ford Motor Co’s (NYSE:F) F-150 Lightning is expected to go on sale in summer. The more affordable pickup has secured nearly 200,000 reservations and the company.
Rivian Automotive Inc (NASDAQ:RIVN) and Tesla Inc (NASDAQ:TSLA) are other contenders in this category.
Price Action: GM shares closed 0.36% higher at $58.61 a share on Wednesday.
See Also: GM To Begin Deliveries Of Non-EPA Rated 329-Mile Range Electric Hummer In December: Report
Photo: Courtesy of GMC
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