- Tesla is eyeing a smaller, more utilitarian electric pickup to fill the empty midsize EV truck void.
- Rivals Ford, Ram and Kia are already working on electric vehicles for the midsize segment.
- Pricing (and specifically affordability) will be vital for the baby Cybertruck's success in a post-EV federal tax credit United States.
The Tesla Cybertruck got off to a flying sales start when it was launched in 2023. However, after the initial backlog of orders was fulfilled, new orders just didn’t come in at the rate Tesla expected. It wanted to shift around 250,000 units, and this year sales have seemingly fallen off a cliff, and it's only expected to sell around 20,000.
It was America’s top-selling pickup truck in 2024, but the Ford F-150 has since regained the top spot. There are several factors that have affected its sales, but the main one is its price. Before it came to market, Elon Musk said the cheapest version of the Cybertruck would cost $39,900, but as its launch drew nearer, he started backtracking on the initial claim.
But the midsize electric segment is still anybody’s game—there aren’t any, and so Tesla is considering making one with a much more utilitarian focus than the flashy full-size Cybertruck.
Business Insider points to statements from Tesla engineering boss Lars Moravy, who recently spoke to fans during a Tesla investors event. When asked about the prospect of a truck to slot under the Cybertruck, he said, “We always talked about making a smaller pickup. I think in the future, as more and more of the robotaxi comes into the world, we look at those options and we think about, OK, that kind of service is useful not just for people, but also for goods."
Moravy added, "We've definitely been churning in the design studio about what we might do to serve that need for sure."
There would be room to add customers—potentially, anyway.
Today, the least you can pay for a Cybertruck is $69,990 (or $62,490 if you include the soon-to-be-gone federal tax credit), which gets you behind the wheel of a dual-motor Long Range model with a 354-mile EPA range, 0-60 mph in 6.2 seconds, and a towing capacity of 7,500 pounds.
But that makes it big and expensive, and if you factor in Tesla’s image problem, it’s not hard to see why buyers are looking the other way. Ford offers the much more reasonably priced F-150 Lightning, which starts at $51,975 and doesn’t look like an oversized sci-fi doorstop. For a bit more, buyers can also get the rather excellent Rivian R1T, which was good before, but the Gen2 model is considerably better in every metric.
So the opening does exist for Tesla, which is struggling with its limited lineup of EVs anyway. Moravy stopped short of saying a smaller truck is on the way, but Tesla has been considering making one for years. In November 2019, Elon Musk tweeted that “Long term, it probably makes sense to build a smaller Cybertruck too.” There was also an official Tesla artwork hanging above the Cybertruck while it was on display at the Petersen Automotive Museum. It showed a smaller two-door, single-cab version of the Cybertruck, which appeared to be an early design sketch.
Even if a smaller Tesla truck is in the works, it’s likely still a few years away, and by the time it arrives, the midsize electric pickup segment will already be populated. Kia is working on one, which will reach the market "soon," promising “best-in-class interior and cargo space, a robust towing system, off-road capabilities and advanced infotainment and safety features."
Ford may also be working on a midsize electric pickup, which will debut in 2028. The truck will have lithium-iron phosphate (LFP) battery cells sourced from CATL and match what China’s BYD is producing for cost, according to company boss Jim Farley, quoted by Autoweek. Farley remarked, “Boy, are we excited about these coming out in the next few years. You know, in 40 years in the industry, I’ve seen a lot of game-changer products, but the midsize electric pickup designed by our California team has got to be one of the most exciting.”
Ram is also working on an electric pickup that’s smaller and cheaper than its future 1500 REV. Automotive News says Ram gave dealers a peek at its future midsize EV truck in concept form back in March of 2023. MotorTrend says we could see the new Ram truck sometime next year, although it’s not clear if it’s the electric or combustion version of the truck.
General Motors reportedly scrapped its plans for an electric contender in the segment. Autoweek says GM was developing its own, but the project got scrapped as the manufacturer shifted its focus away from pure electric vehicles to hybrids and plug-in hybrids. When the first rumors about the truck first surfaced, it was claimed that it would have a starting price of under $30,000, but that seems optimistic, looking at what other companies are doing today.
Slate, for instance, expects its compact electric truck with wind-down windows to start at around $28,000. It’s one class down from midsize and is about as pared down as vehicles get these days. So a new midsize EV truck from a major OEM would probably start around $30,000 to $35,000.
Tesla would have to get its vehicle down to a very competitive price to help it get buyers away from what the mainstream brands offer. And as for the looks? Well, beauty is in the eye of the beholder.
