Automakers bet big on electric pickup trucks

With electric and hybrid cars an increasingly common sight on America's roads, the next big frontier for auto manufacturers is electric pickup trucks. According to Auto Week, the number of electric pickup trucks on the market is set to increase over the next three years from zero to 10 models.

According to CNET Roadshow, automakers are betting that electric pickup trucks are the future in the already-booming pickup truck market. General Motors previewed its new all-electric Hummer EV pickup truck with a pricey commercial during the 2020 World Series, while Ford is planning an electric update to its hugely popular F-150 truck, according to Wired Magazine. General Motors also plans an electric Chevrolet truck, for buyers who want a more utilitarian vehicle, according to Auto Week.

Startup automakers are getting in on the action, too. The much-anticipated Rivian R1T truck was expected to go into production this year, but faced pandemic-related delays. The Bollinger B2 truck is expected to hit the market in 2021. Lordstown Motors, which started operations after purchasing a shuttered General Motors plant in Lordstown, OH., plans to focus on the commercial truck market with its Endurance pickup, due in 2021, according to CNET Roadshow.

Consumers who want to own part of the first generation of all-electric pickup trucks need deep pockets'the Hummer EV could run as high as $112,595, depending on the model, according to CNET Roadshow. The more affordable Tesla Cybertruck will eventually be available for as low as $39,900.

Despite the steep up-front price tag, electric vehicles enjoy numerous benefits over their combustion engine counterparts, according to Wired Magazine. Electric engines are fast and powerful with fewer moving parts to maintain, and buyers may save money in the long run.

Still, the electric pickup has drawbacks. Battery power and range are still issues with all electric vehicles. With trucks, towing can reduce the range by half. Charging may not be available on all long hauls.