Volkswagen Eyes Electric Pickup Truck Market As Battle Between Ford, GM, Rivian Heats Up

Volkswagen could be one of the newest contenders to enter the electric pickup truck arena as the battle of the brands heats up in the U.S. market.

Ford is set to begin production of the F-150 Lightning on April 26, While GM’s Chevy Silverado EV will officially launch in 2023. Rivian has begun deliveries of its R1T model, and Tesla said earlier this month that the Cybertruck would finally start selling in 2023.

For the German automaker, introducing an electric pickup truck may be more than a pipe dream. Scott Keogh, Volkswagen Group of America CEO, told Business Insider that it could be a huge opportunity for the brand.

"I think it's the chance of a lifetime in this segment because electrification gives you a reset moment. It gives you a chance to bring some, let's say, alternatives and some new ideas into this great segment.”

While adding an electrified truck to the Volkswagen lineup would align it with its rivals in the electric truck segment, Keogh didn’t have any news on the subject just yet.

"It's something we're actively looking at, but nothing to actually report now,” he told Business Insider.

However, Keogh said he sees advantages to launching an electrified truck for Volkswagen, which already sells a gas-powered pickup outside of the U.S.

Keogh explained that electrification has leveled the playing field for automakers as everyone is facing pretty much the same challenges as they scale up production.

He continued by saying there’s a good chance that consumer preferences and brand loyalties may no longer be as big of a determining factor in the electric truck race.

“I think a buyer would historically say, 'I buy F-150, I buy Ram, I buy Silverado.' Now they might be saying, 'I'm going to buy an electric one.’ That reset moment gives a competitive chance to come in, whether it's Rivian or whether it's us,” he said.

No matter if Volkswagen introduces an electric pickup truck in the near term, the automaker has already made a heavy bet on electric vehicles, investing over $7 billion in electric vehicle research and development and manufacturing in North America.

Globally, the company has said it will invest $60 billion over 10 years, rolling out up to 75 all-electric cars and 60 hybrids through 2029.

Volkswagen also announced that 55% of its U.S. vehicles sales will be electric by 2030 and said it will phase out all gasoline-powered vehicles from its U.S. portfolio within the next decade, where it will then only sell electric cars.

Volkswagen held 11% of the global electric vehicle market in 2021, trailing Tesla, which scooped up a 14% share, CNN reported.