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The Chevrolet Silverado EV Is in Such High Demand, It Will Take Years To Get Yours

With all the buzz surrounding electric vehicles right now, you might be tricked into thinking they have become mainstream. The truth is, most of them exist only as a waiting list now and you will probably have to wait for years until you will be the first beta-tester of the technology. That’s why Mary Barra announcing there are 110,000 reservations for the future Chevrolet Silverado EV is good news, but not quite.
GM's CEO Mary Barra confirmed the Chevy Silverado EV has amassed more than 110,000 reservations 29 photos
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The pickup truck segment is one of the hottest in the market, next to the SUV segment. It’s not a coincidence many carmakers, startups and established companies alike, develop them in tandem. And the market does not seem to lack EV offerings in these segments if you look at the news. The only problem is, most of those vehicles do not exist yet. Although you can reserve one, this only puts you on a waiting list rather than signs you up for an electric pickup truck.

This is true even for models that already started limited deliveries, like Rivian’s R1T, or GMC Hummer EV. But what about the hot models training on the side? The Chevrolet Silverado EV should enter production in “early 2023” and it already looks like a bestseller. If you’re in the market for an electric pickup truck, the Chevy Silverado EV surely looks like a compelling option. This explains why more than 110,000 reservations were made, as announced by Mary Barra in GM’s Q4 2021 Shareholder Letter.

While this looks good for GM, it’s not the same story for the customers. With the production expected to start next year, is fair to expect this number to double by then. Sure, GM has experience in building EV’s, even though they only delivered 26 in Q4 2021. But we expect production glitches on the way to ramping up production and the initial volumes to most certainly be low, despite the heavy investments in the EV and battery plants.

With an optimistic projection of a 50,000 units production in 2023 and probably 150,000 units in 2024, GM will need years to build all the reserved trucks. That is if the reservations are all converted into firm orders. It's true, many people would want to reconsider their options when other EV trucks will be available to order in the meantime.

If you decide now that you want a Chevrolet Silverado EV, you’ll probably get it in 2025, at the earliest. Would you wait that long if Ford sorts out the production and offers the F-150 Lightning in high volumes by then? Rivian should also have two factories pumping the R1T at full speed as early as 2024. We’re curious to see how this will work out for GM and the whole car industry.

 
 
 
 
 

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