General Motors Corp GM will begin delivering the Hummer electric truck and sports utility vehicle, with a 329-mile range, in December, Electrek reported on Tuesday, citing the company.
What Happened: The electric Hummer has secured 125,000 handraisers and about half of those have booked the vehicle with a $100 for a reservation.
The bulk of the preorders at 80% are for the Edition 1 model, which is also the most expensive variant at a base price of $110,295. The models coming later in 2024 will be much cheaper at $80,000 price tag.
Production for the electric Hummers is expected to begin in the next few days, the report said, adding that the legacy automaker will begin contacting the customers in the next few days to finalize the orders.
The electric truck’s 329-mile range has not been certified by EPA because the green trucks are not expected to reveal the efficiency.
See Also: GM Unveils 'Supertruck' EV Hummer, With 350-Mile Range For $112,595
Why It Matters: The Detroit-based legacy automaker is boosting investments to switch 40% of the company’s U.S. volume to battery electric vehicles by the end of 2025. The Hummer EV pickup was unveiled in October last year with deliveries slated to begin this fall.
GM is pumping in $35 billion through 2025 to develop electric and autonomous vehicles and aims to launch 30 all-electric models globally by 2025.
If successful, GM will beat the recently listed Rivian Automotive Inc RIVN, Ford Motor Co F and even Tesla Inc TSLA in delivering the first electric pickup trucks and SUVs to customers.
See Also: GM Confirms It's Working On A Third Electric Pickup And It Will Be A Full-Size Truck
Rivian has delivered electric trucks to employees and is gearing up to begin deliveries to customers in March. Tesla’s hotly-anticipated Cybertruck is still under the works while Ford’s F-150 Lightning is expected to go on sale early next year.
Price Action: GM shares closed 1.58% lower at $63.05 a share on Tuesday.
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