The Cybertruck’s Death Is Actually Great News for EVs

The Cybertruck's demise could be beneficial for electric vehicles (EVs) as it highlights the waning era of big trucks in the industry. With its massive 123 kWh battery weighing around 1,600 pounds, the Cybertruck was a significant contributor to its subpar sales and number of recalls, making the end of the Cybertruck a positive sign for pedestrian and biker safety, as well as the battery supply chain.

Ford and startup Slate are planning to introduce smaller electric pickups, with Ford's Fathom expected to be sub-$30,000 and around the size of the Maverick. Slate's tiny electric pickup, starting under $25,000, also features a svelte battery, leading to an increase in preorders. Rivian's R2 SUV, while not as small or cheap as Ford and Slate's vehicles, is still more compact than its flagship R1S, and the company has teased an even smaller SUV in the future.

While big EVs like the Kia EV9 and R1S remain popular, the trend is moving towards smaller EVs and extended-range vehicles. The average transaction price for a new EV model is now $55,800, and smaller vehicles can benefit from a cheaper battery, making EVs more affordable in a market where other consumer goods have skyrocketing prices.

With Democrats potentially taking the White House in 2028, EV incentives could return, making EVs even more attractive to buyers. Automakers pivoting to smaller cars could better position themselves to meet pent-up demand and lower delivery risks. Elon Musk's decision to kill the Cybertruck, announcing a focus on producing more Cybercabs, further supports the shift towards smaller EVs with lower battery sizes, such as Tesla's upcoming Cybercab with just 48 kWh batteries.