Startup Rivian builds its first electric pickup
New York (CNN Business) There is a winner in the race to build the first consumer ready electric pickup truck, and it isn't Tesla, Ford or General Motors.
Customers can only buy the trucks online, as there are no showrooms yet available to see or test drive the vehicle.
Although electric cars and SUVs continue to grow in popularity, an EV pickup has been more plans and promises than reality so far.
Ford F Amazon AMZN , which along withhas made an investment in Rivian, has plans for its own electric pickup, the F-150 Lightning , due to go on sale next year.
Tesla TSLA expects to complete its first Cybertruck pickup by the end of this year, although full production won't start until 2022.
GM GM And's electric Hummer pickup and an electric version of its two full-size pickups, the Chevrolet Silverado and GMC Sierra, are due out in 2022 or later.
The only company saying it is close to production of an EV pickup is another startup, Lordstown Motors, but the company has yet to say when it is starting production.
Rivian priced the R1T at $73,000 and said it has already sold out the launch edition of the trucks.
It is significant that Rivian has succeeded in being first to market with its EV pickup, said Brian Moody, executive editor of AutoTrader, a unit of Cox Automotive, which is also an investor in Rivian.
"Electric trucks are a hot thing right now.
Currently privately held, Rivian plans to launch an initial public offering in November.
Unlike some other electric truck start-ups, such as Lordstown and Nikola, it will go public after it starts generating revenue.