Musk Compares Tesla Pickup Truck To The F-150, Says It Will Cost Less Than $50,000

Tesla Inc 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 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.

Related Links:

Tesla VP Says Electric Pickup Truck Is Coming

Barclays Cuts Tesla Price Target To $150