It’s starting to feel like the 1920s again, with auto manufacturers popping up all over the place.
Tesla unveiled its new Cybertruck to great fanfare last week, and by Sunday Founder and CEO Elon Musk claimed to have 200,000 orders at an average price of about $50,000. That’s $10 billion in revenue that would come in handy.
But an order isn’t a purchase, and a lot of things will happen before Tesla sells its first truck. Not the least of which, several competitors will already have electric trucks on the road. Overall, eight different companies plan to produce electric trucks in the next two years.
Well-funded electric truck startup Rivian plans to have an electric truck on the road by late 2020, a full year ahead of Tesla. The company also plans to make an SUV and cargo van. One of its investors, Amazon, has already placed a large order for delivery vans.
Beyond that, Musk will be competing with old-line companies like General Motors and Ford, as well as upstarts like Lordstown Motors Corp, Bollinger Motors, Hercules, and Atlis.
With so many choices available, and several offered by companies that have actual dealerships and service networks, it’s possible not every person who plunked down $100 to “reserve” a new Cybertruck will follow through with a $50,000 order. But Tesla has long been a company long on dreams and short on deliveries.