What the Tesla Cybertruck Means for Ford and GM

What the Tesla Cybertruck Means for Ford and GM

Elon Musk unveiled the Tesla Cybertruck in Los Angeles and showed off the electric pick-up truck’s Blade Runner, cyberpunk inspired style. The truck’s unique look and design gives a glimpse of the sleek, shiny technologic future. For Musk, it’s just the tip of the iceberg. His unveiling included Franz von Holzhausen, Tesla’s chief of design, hitting the truck with a sledgehammer to show its unparalleled durability.

He went on further to describe the armored truck to be bulletproof and claimed that it won a tug-of-war against a Ford F-150 and a drag race against a Porsche 11. But when he went to show the strength of the “shatterproof” glass by throwing a metal ball at it, the glass shattered. Musk quickly came back from the failed test by saying that the glass will definitely be up to par when the trucks enter the market around late 2021.
 

Hardly a New Idea

 
Elon Musk has toyed with the idea of creating his futuristic electric truck since 2012 in a tweet and then again in 2013 when he announced Tesla’s plans during a Business Insider interview. The Tesla Truck’s unveiling was the realization of his idea.

There are three different versions of the Tesla Truck that will be available:

  • At $39 900: the single motor rear-wheel drive with 250 miles of range, 7,500-pound towing capacity, and 0–60 mph capabilities in under 6.5 seconds
  • At $49 900: the dual motor all-wheel drive with 300 miles of range, 10,000-pound towing capacity, and 0–60 mph in under 4.5 seconds
  • At $69 900 (and at a later date in 2022 than the other versions): the triple motor all-wheel drive with 500 miles of range, 14,000-pound towing capacity, and 0–60 mph in under 2.9 seconds

 

The Competition in the Electric Truck Market

 
As Tesla’s first electric pick-up truck, Tesla sets the bar for the industry as Ford and GM loyalists eagerly await to compare the giants of the truck industry and their versions of the electric truck. According to Itay Michaeli, a traditional car analyst, Ford has more to lose over GM as the larger manufacturer and with most of its profits coming from truck sales.

But it is still too early to say that how much impact the Cybertruck will have on either company. Ford has its own electric truck in the works to be released in the close future and an investment in the startup company, EV, and the Rivian, which will be released into the market earlier than the Cybertruck. GM on the other hand, also confirmed that it too will release their own electric truck in late 2021/early 2022.

Although the Cybertruck unveiling had a sledgehammer and a metal ball, it might have to compete with an already existing market of electric trucks once it comes out – something that Tesla products don’t usually have to consider. It is also important to consider the other players in the industry, the truck part suppliers. Amongst all this competition, suppliers will also increase their company values.

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