Shimkus: Factories Gambled and Lost on Expensive, Full-Size Electric Trucks
Full-size electric pickups never caught on as automakers predicted, leaving behind canceled trucks and billions in write-downs, writes Business Insider’s Ben Shimkus following the discontinuation of the Tesla Cybertruck.
Cox Automotive data shows the six electric pickups it tracks sold about 32,500 units through September, down 53% from a year earlier. Since 2025, GM has taken nearly $11 billion in write-downs, Ford has taken a $19.5 billion charge after discontinuing the F-150 Lightning, and Stellantis has taken $26 billion even though the Ram REV never reached production.
Shimkus says those trucks had to compete with cheaper gas-powered alternatives and came with tradeoffs. Cox Automotive’s Stephanie Valdez Streaty says buyers expect strong towing, payload and range, and large electric trucks need large, expensive batteries. AutoPacific’s Robby DeGraf calls them “pretty dang expensive,” noting the Sierra EV starts at around $65,000.
Automakers are now betting on smaller, cheaper trucks. Ford says its midsize Fathom will start under $29,000, with production starting next fall, and Slate Auto’s Blank Slate starts at $24,950. Morningstar’s Seth Goldstein tells Shimkus a smaller truck with at least 300 miles of range could work, but will be harder to build than an SUV or sedan.
