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Tesla Introduces New Electric Pickup with Plans to Offer More Versions

Tesla stock price

On Thursday, Tesla Inc introduced its electric pickup truck into the market with a starting price lesser than originally announced. The car has an armored vehicle design with a futuristic angular body. It seems the electric truck may not meet up with the hype it has received before its launch. It looks quite different in its polarizing design. This may be harder to sell, especially in an American market with a practical and rugged lifestyle.

While speaking at its launch, Elon Musk noted that the price of the new truck would be less than other versions. Other versions are offered at the rate of $69,000 and $49,000, with this version offered at less than $40,000. He stated that the most expensive version, with a speed limit of 500 miles per hour, will cost $69,000. Production of these newer models will begin in the 4th quarter of 2021, he said.

According to Musk, the need for sustainable energy is increasingly getting more important. If there is no pickup truck, it’s difficult to provide this need. Pickup trucks are the three bestselling vehicles in America right now. He reiterated that pickup trucks would come in handy if the world wants to solve the problem of sustainable energy.

He further stated that this Tesla truck has windows designed with armored glass, has massive tires for any environment, and the body is made from stainless steel. According to Executive Editor at Kelley Blue Book, the product will be a standalone product because it will not compete in the pickup market. Alon Musk said that the new Tesla truck has an ultra-hard outdoor design, which will not dent or scratch easily. However, at its exhibition, the armored glass window broke easily when it was hit with a metal ball.

Tesla is focusing on the market’s high-performance section

With the high achievement of the Ford F-150 Raptor Truck recorded in the market, it seems Tesla is following the same route to introduce a high-performance line into the market. The Ford truck was introduced into the market in 2009 and has exceeded annual projected demand within the first five years of its launch. Ford said it does not announce the sales of its Raptor truck, but the sales have always passed the projected sales level since it was launched into the American market.

Tesla (TSLA) May Soon Start Production at Its Chinese Gigafactory

These sales come even when Ford does not offer incentives for the truck. The F-150 model is the most luxurious and most powerful truck the company has ever produced. Despite its high cost, the demand for the truck is still high.

It seems Tesla wants to follow this route to offer the same line of truck for its teeming clients in America.

Tesla’s Truck already sees competition

GM and Ford are also getting set to offer a competitive truck that will challenge the Tesla truck. There are new offerings like the electric SUV and pickups, as well as the Ford Mustang Mach.

With the introduction of SUVs and electric pickups, GM and Ford could get more sales to meet the tougher emission standard they need in California and other states.

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Ali Raza

A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.