GM has promised that the Silverado EV will have at least 400 miles of range, new fast-charging capabilities, and a four-wheel steering system when it goes into production early next year.
GM is positioning the Silverado EV as a direct rival to Ford Motor‘s electric F-150 Lightning. Ford had about 200,000 reservations for the F-150 Lightning when it stopped taking new orders for the truck in December. Production of the Lightning began earlier Tuesday.
GM’s shares were up about 0.7% in after-hours trading. The company reported a decline in first quarter net earnings and profit margin Tuesday afternoon.