It's not just the Cybertruck. America's big electric-truck bet fell apart.

In the early 2020s, automakers promised big electric trucks. They've failed to meet expectations. Kyle Grillot/Bloomberg via Getty Images, Ben Shimkus/Business Insider Full-size electric trucks were supposed to be a hit in America. They weren't. Detroit automakers spent billions on write-downs. And the Tesla Cybertruck is getting the ax. Now, there's a fresh EV bet in the making: small, low-cost electric trucks. On paper, EV trucks made sense: Take America's longtime best-selling vehicles — the Ford F-150, Chevy Silverado, GMC Sierra, Ram 1500 — and replace the exhaust pipes with a charging port. "All the capability, status, and desirability of a pickup truck minus that oftentimes poor fuel economy?" Robby DeGraf, the manager of product and consumer insights at AutoPacific, told Business Insider. "Sounds great, right?" For many truck buyers, it wasn't. Full-size electric trucks never caught on as automakers predicted, and they are falling even further behind this year. Cox Automotive data shows that the six EV pickups it tracks sold about 32,500 units through September, down 53% from the same period last year. The retreat has left behind canceled trucks, production cutbacks, and billions of dollars in EV-related charges. Since 2025, GM has paid nearly $11 billion in write-downs as it has slowed its EV-building pace; Ford discontinued its electric pickup and recorded a $19.5 billion charge; and the Ram REV never made it to production — but Stellantis still paid $26 billion in write-downs. On Friday, the electric-truck industry took another major blow: Tesla said it will discontinue the Cybertruck. So, what happened? The Ford F-150 was America's best-selling electric pickup when it was discontinued. Scott Olson/Getty Images In the early 2020s, Detroit carmakers, inspired by Tesla's surprise success with the Model 3 and Model Y, wanted their own EV options. Ford launched the all-electric F-150 Lightning in 2022; GM followed with the Silverado EV and Sierra EV for the 2024 model year; and Stellantis planned to release the Ram 1500 REV in early 2025. Even Tesla jumped into the full-size truck party, launching the Cybertruck in 2023. Those trucks had to compete with cheaper, familiar gas-powered alternatives — and came with compromises. "Pickup buyers have high expectations, and electrifying a large truck involves real trade-offs," Stephanie Valdez Streaty, the director of industry insights at Cox Automotive, said. "Buyers expect strong towing, payload, range, charging, and overall utility." Large electric trucks need large, expensive batteries, she said, and towing can also sharply reduce their range. Plus, "these full-size EV pickup trucks are and were pretty dang expensive," DeGraff added. The Sierra EV, for example, starts around $65,000. An altogether new bet The Blank Slate is part of a new generation of EVs. Justin Sullivan/Getty Images Automakers have a new bet: smaller and cheaper electric trucks that aren't competing with the full-size workhorses. Ford's entry to that market is the Fathom, the first vehicle on its universal EV platform. Ford says the midsize truck will be smaller and simpler to build than the F-150 Lightning, with a starting price under $29,000. It hasn't released key details — including trim levels and range figures — but production starts next fall. Slate Auto is making an even more radical affordability play. Its bare-bones, two-seat Blank Slate pickup is expected to enter production this month and starts at $24,950. Whether that formula works remains an open question. "If a company can offer a smaller electric truck that has at least 300 miles of range, then I think it could work," Seth Goldstein, a senior equity analyst at Morningstar who covers the auto industry, said. "But it's going to be more difficult than building an SUV or a sedan where you don't need as much power." Read the original article on Business Insider