Tesla Inc. (TSLA, Financial) promises to make a pickup truck after bringing the electric crossover vehicle Model Y to the market. At the Tesla Semi event, Tesla revealed an image of a pickup truck, which the company’s CEO Elon Musk described as “a pickup truck that can carry a pickup truck.” To most of the people, it sounded like a joke, but when Musk said that he had the interior and core engineering elements in his mind for the pickup truck for nearly five years, the concept of an electric pickup truck got real.
Bird’s-eye view
Questions were raised by some people regarding the electric pickup truck, such as whether it will be that of the size of the Ford (F) F-150 truck series. Musk responded that the truck could be bigger than Ford’s F-150 trucks due to the fact that the company would add some game-changing features in it.
The electric pickup truck is a smaller version of the Tesla Semi. One of the many features of this pickup truck is that it can be driven with a standard driver’s licence rather than a commercial driving licence. The pickup truck will have three electric motors as compared to Tesla Semi that would have four Model 3-derived electric motors.
Musk said that the company would focus on ramping up Model 3’s production after which it would shift its attention towards Model Y, which is built by carrying over extensive features from the Model 3. This will help the company to launch the electric pickup truck faster.
However, the main issue is that the Model 3 hasn’t been unveiled yet. The Tesla Semi and Roadster have already been unveiled at the show. Therefore, it is difficult for the electric vehicle giant to ascertain the order in which future Tesla vehicles would begin their journey.
Last word
Musk has been longing to build an electric pickup truck for quite a long time. During the Tesla owners event held in 2013, the company’s CEO said, “I am quite keen on building a truck and I think there’s a lot one can do with truck technology.”
As of now, it’s still a long way before the production of the electric pickup gets started. The electric semi will hit the road in 2019. Furthermore, the Model Y will be going into the production process in 2019 or later. Pickups are the top-selling vehicles in the U.S. Further, they account for wider margins for the automakers. Tesla's strategic move to enter the pickup arena is an interesting one. What remains to be seen is how soon the carmaker will be able to launch the vehicle to capitalize on this high-demand market.
Disclosure: I do not hold any position in the stocks mentioned in this article.
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