Electric Pickup Trucks Face Near-Term Challenges as Lucid’s Skepticism Proves Prescient

Lucid Motors' early skepticism about electric pickup trucks appears validated as the segment struggles commercially. Former CEO Peter Rawlinson's 2024 warning about the difficulty of creating "usable and cost-effective" electric pickups now reflects market realities.

Tesla's Cybertruck exemplifies these challenges. Despite initial fanfare, the vehicle has disappeared from Tesla's U.S. order page following disappointing sales. Registration data reveals just 15,211 units sold through July, far below Elon Musk's 2019 projection of 250,000-500,000 annual sales. A recent price cut to $70,000 for a stripped-down version failed to revive interest.

The broader electric pickup market shows similar strain. Multiple manufacturers face sluggish demand as consumers balk at high prices and compromised functionality. This trend suggests a slower-than-expected transition to electric commercial vehicles, particularly in the North American market where pickup trucks dominate.