Leaders.com
  • Login
  • Subscribe
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
  • Login
  • Subscribe
Business ev truck competition

Rivian Automotive and Ford Motor are in tight competition to determine the number one EV truck. (Photo by Justin Sullivan/Getty Images)

By Hannah Bryan Leaders Staff

Hannah Bryan

Hannah Bryan

News Writer

Hannah Bryan is a news writer for Leaders Media. Most recently she was a reporter for the Sanilac County News...

Full bio


Learn about our editorial policy

Oct 10, 2022

EV Truck Manufacturers Fight For Top Spot

The race to build the best EV truck just became a little more interesting as a startup automotive company edges ahead of Ford Motor.

Key Details

  • Startup automaker Rivian Automotive and Ford Motor are locked in tight competition to build the best electric (EV) truck, but Rivian is pushing ahead.
  • So far this year, Ford has sold 8,760 Ford Lightnings, an EV truck the company launched in April this year. Rivian has sold 12,278 of its R1 trucks during the same time period, Al Root reports in Bloomberg.
  • Rivian’s lead may not be long-lived as Ford’s third quarter sales closed in on Rivian’s.

Why it’s news

Trucks rank consistently among the most popular types of vehicles for Americans, making them a target for EV developers.

The Ford F-150 has been the best selling vehicle in the U.S. for over 40 years, showing that Ford knows how to make a truck that will sell, but an EV truck is a totally different market. 

Third quarter sales showed that Ford is gaining on Rivian, however. Rivian sold 6,584 trucks in the third quarter while Ford sold 6,464.

Ford only recently began offering the Ford Lightning model, but plans to produce 150,000 Lightnings a year starting in 2023. Rivian on the other hand will produce 21,000 EVs this year and is expected to make 73,000 the following year.

For now, there is plenty of business for both companies, but the playing field will soon get a little more crowded. 

General Motors and Tesla have plans to start selling their EV trucks next year. Both companies have built high interest in their products and have pre-orders totaling in the hundreds of thousands.

While interest in EV trucks is high, the market for EVs will likely remain largely with smaller, lighter vehicles. Trucks and SUV sales are approximately 70% of the new vehicle market in the U.S., but less than 2% of truck sales come from EV trucks, Bloomberg reports.

Rivian is facing troubles as it recently announced a recall on nearly every vehicle sold so far due to a steering defect.

Home / News / EV Truck Manufacturers Fight For Top Spot
Share
FacebookTweetEmailLinkedIn

Related Stories

What Musk Calls the Most Serious Economic Issue

by Hannah Bryan Leaders Staff
Real Estate

16 minutes ago

the economic crisis

The economy is facing multiple challenges this year, but among the top issues is the condition of commercial real estate—at least according to Elon Musk. 

Key Details

  • A global capital markets newsletter, the Kobeissi Letter, reported that more than $2.5 trillion of real estate debt will mature in the next five years. 
  • “Refinancing these loans is going to be incredibly expensive and likely lead to the next major crisis,” the Letter tweeted. “The worst part? 70% of commercial real estate loans are owned by small banks. Rapidly rising rates are teaching everyone a valuable lesson. There's no such thing as ‘free’ money.”
  • The Letter blamed part of this impending crisis on rising interest rates. 
  • In response to the Letter’s comments, Twitter CEO Elon Musk tweeted, “This is by far the most serious looming issue. Mortgages too.”

Go deeper

FacebookTweetEmailLinkedIn

Small Outflows From Small Banks 

by Tyler Hummel Leaders Staff
Markets

About an hour ago

Banks

The ongoing banking crisis has created anxiety for depositors, but not enough money is moving to upset the financial system. 

Key Details

  • Friday’s Federal Reserve report on the banking system shows that deposits outside of the largest U.S. banks dropped by $108 billion, or 1.9%, the week after Silicon Valley Bank collapsed. 
  • Deposits at the 25 largest U.S. banks increased by $120 billion simultaneously. 
  • This amounts to the largest single-week drop on record for deposits, signaling that outflows from small banks are real but have not crippled operations for regional banks facing consumer anxieties, Axios reports. 
  • Fed Chair Jerome Powell mentioned on March 22 that “deposit flows in the banking system have stabilized over the last week.”

Go deeper

FacebookTweetEmailLinkedIn

CIA Lessons On How Not To Derail Meetings

by Hannah Bryan Leaders Staff
Company Culture

About an hour ago

meeting sabatoge

Business leaders could unintentionally be using Central Intelligence Agency (CIA) tactics to disrupt meetings and make them less productive. 

Key Details

  • In the 1940s, the CIA developed a Simple Sabotage Field Manual to instruct foreign saboteurs on ways to disrupt enemy intelligence and help the Allies in their efforts. 
  • Among these methods is the “General Interference With Organizations And Production,” instructions for how Allied sympathizers could disrupt meetings, Forbes reports. 
  • These tactics were successful in making enemy meetings less successful in 1944, but these methods may be—unintentionally—in practice in modern-day businesses, and not because of CIA interference. 

Go deeper

FacebookTweetEmailLinkedIn
Business

2 hours ago

Changing Outlook For Ad Sales For 2023

by Savannah Young Leaders Staff
School Shooting
Social Issues

3 hours ago

Nashville Community Mourns Six School Deaths 

by Tyler Hummel Leaders Staff
Business

4 hours ago

‘The Messenger’ Makes Acquisition Even Before Its Launch

by Savannah Young Leaders Staff

Recent Articles

Productivity

Mar 27, 2023

84% of Workers Are Easily Distracted—Here Are 10 Tricks to Stay Focused

Learn to improve mental performance when you can’t stay focused.

Leadership

Mar 22, 2023

Creating Loyal Employees Is About More Than Just the Paycheck

If you think simply paying your employees more will gain their loyalty, think again.

Business

Mar 20, 2023

Worried About ADHD At Work? Here’s How It Might Actually Help You

Neurodivergent people often have a high level of creativity and innovative thinking.

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2023 Leaders.com - All rights reserved.

Search Leaders.com