New GM electric truck faces competition and skeptical buyers

$General Motors(GM.US)$ The competition among U.S. automakers for a still-small pool of consumers seeking electric vehicles is quickly intensifying.

General Motors, normally the top-selling U.S. automaker, officially unveiled the Chevrolet Silverado EV Wednesday with a virtual press conference at the CES gadget show. Work truck versions go on sale in the spring of next year, followed in the fall by a high-end consumer version.

By then, they’ll face competition from rival Ford’s electric F-150, startup Rivian’s R1T, and possibly Tesla’s Cybertruck. Stellantis, formerly Fiat Chrysler, has promised an all-electric Ram.

Industry analysts say the intense competition in the electric pickup market means that battery-powered vehicles are moving into the mainstream after years of confinement to luxury or smaller vehicles.

Pickups are among the most popular vehicles in the nation. Ford’s F-Series is traditionally the top-selling vehicle in America, followed by Stellantis’ Ram pickup and the Silverado. Automakers sold more than 2.3 million big pickups last year, about 15% of all vehicles sold in the U.S. Many go for well over $50,000 and are a huge source of profits and jobs with the automakers.