Musk Compares Tesla Pickup Truck To The F-150, Says It Will Cost Less Than $50,000
Tesla Inc (NASDAQ: TSLA) CEO Elon Musk offered new details on its upcoming pickup truck, including a price tag and a pledge it will be "better than a [Ford Motor Company (NYSE: F)] F-150 truck.
What Happened
Musk confirmed on the "Ride the Lighting" podcast over the weekend the new truck will have a starting price of less than $50,000. The CEO was quoted as saying on the podcast its truck "just can't be unaffordable" although it will offer versions of the truck with a higher price tag. An F-150 starts with an MSRP price as low as $28,000.
Musk also said the truck needs to have "incredible functionally from a load carrying standpoint" in addition to looking amazing, Electrek said.
Why It's Important
Musk said during the podcast the Tesla truck "won't look like a normal truck" and will look "pretty sci-fi." This implies it won't be a truck made "for everyone," but will target consumers who don't want to drive a truck that looks the same today as it did decades ago.
Musk said the truck needs to be "more capable" than rivals, especially the Ford F-150 in terms of "truck-like functionality." At the same time, Electrek said the truck is intended to be a "better sports car" compared to a Porsche 911.
What's Next
If Tesla is able to release a truck at its planned price point and be able to drive 400 or more miles on a charge it can boast "something extremely interesting" in the segment, Electrek opined. By comparison, the Rivian R1T starts at $69,000 with a range capability of 230 or more miles.
Musk in March teased what the truck will look like.
Tesla's stock closed Friday at $185.16 per share.
Editor's note: A previous version of this article said an F-150 starts as low as $52,000. This was incorrect.
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