Production expected to begin in late 2021 (Recasts and writes through)<\/li>\n<\/ul>\nNov 21 (Reuters) – Tesla Inc on Thursday unveiled its first electric pickup truck that looked like a futuristic angular armored vehicle in gunmetal gray, as the California company took aim at the heart of Detroit automakers’ profits.<\/p>\n
At a launch event in Los Angeles, Tesla Chief Executive Elon Musk said the Cybertruck will have a starting price of $39,900 and production is expected to begin in late 2021.<\/p>\n
Other versions will be priced at $49,900 and $69,900 with the most expensive offering a range of more than 500 miles.<\/p>\n
“We need sustainable energy now. If we don’t have a pickup truck, we can’t solve it. The top 3 selling vehicles in America are pickup trucks. To solve sustainable energy, we have to have a pickup truck,” he said.<\/p>\n
The truck, which Musk claimed “won’t scratch and dent”, was described as having windows made from armored glass. But the glass cracked like a spider web when hit with a metal ball during a demonstration. Musk appeared surprised but noted that the glass had not completely broken.<\/p>\n
Reactions on Twitter ranged from love to hate of the sharply angled vehicle. “I just watched tesla release the #cybertruck and honestly? My life feels complete,” wrote @aidan_tenud, while @nateallensnyde wrote “Its nice to see Elon Musk make a cardboard box car he drew in kindergarten,”.<\/p>\n
Musk earlier tweeted the design was partly influenced by the Lotus Esprit sportscar that doubled as a submarine in the 1970s 007 film “The Spy Who Loved Me”.<\/p>\n
The truck marks the first foray by Tesla, whose Model 3 sedan is the world’s top-selling battery electric car, into pickup trucks, a market dominated by Ford Motor Co’s F-150, along with models by General Motors Co, and Fiat Chrysler Automobiles NV .<\/p>\n
The pickup shifts Tesla more toward trucks and SUVs. The automaker has so far sold mostly Model S and Model 3 sedans, but also offers the Model X SUV and starting next year the Model Y compact SUV.<\/p>\n
A focus on the high-performance end of the market is only natural given the success of Ford’s 450-horsepower F-150 Raptor truck, which launched in 2009 and whose sales have since risen annually, according to Ford spokesman Mike Levine.<\/p>\n
While Ford does not disclose Raptor sales, Levine said annual demand is well above 19,000 vehicles and the No. 2 U.S. automaker has never had to offer incentives on the model, which costs in the high $60,000 range. Ford also offers the more expensive F-150 Limited, its most powerful and luxurious pickup.<\/p>\n
Ford and GM are also gearing up to challenge Tesla more directly with new offerings like the Ford Mustang Mach E electric SUV as well as electric pickups.<\/p>\n
Electric pickups and SUVs could help Ford and GM generate the significant EV sales they will need to meet tougher emission standards and EV mandates in California and other states.<\/p>\n
The Trump administration is moving to roll back those standards, but electric trucks are a hedge if California prevails.<\/p>\n
Demand for full-size electric pickup trucks in the near term may not be huge, however.<\/p>\n
Industry tracking firm IHS Markit estimates the electric truck segment – both full- and mid-sized models – will account for about 75,000 sales in 2026, compared with an expected 3 million light trucks overall. The Tesla truck is not part of that estimate.<\/p>\n
Ford aims to sell an electric F-series in late 2021, sources familiar with the plans said. It also will offer the Mach E next year as part of its plan to invest $11.5 billion by 2022 to electrify its vehicles.<\/p>\n
In April, Ford invested $500 million in startup Rivian, which plans to build its own electric pickup beginning in fall 2020.<\/p>\n
GM plans to build a family of premium electric pickup trucks and SUVs, with the first pickup due to go on sale in the fall of 2021. It plans to invest $8 billion by 2023 to develop electric and self-driving vehicles.<\/p>\n
(Reporting by Naomi Tajitsu in Tokyo and Peter Henderson in San Francisco; Additional reporting by Miyoung Kim in Singapore and Joseph White in Detroit; Editing by Edwina Gibbs)<\/p>\n
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