There is much talk about electric vans, and indeed, there is now plenty of choice on the market. But when it comes to electric pickup trucks, they’re still pretty hard to find.
Our team has investigated what is stopping manufacturers from producing them? And as they become more available, are they a practical proposition and what is the best way of financing one?
Lack Of Availability From Electric Truck Manufacturers
When we look at the poor availability of EV pickup trucks from manufacturers, there are a few things to consider:
The single most critical factor is the weight of a battery pack and the electric powertrain.
A double-cab pickup in the UK needs to have a payload of at least 1000 kg to remain classified as a commercial vehicle and not a passenger car. Conventional, 4×4 diesel pickups generally only just achieve this, which allows the operator to reclaim the VAT element of the purchase price or lease rentals.
Secondly, electric vehicle owners want the longest possible range between charges, so they ideally want the largest battery pack possible.
Of course, this adds weight. So, an electric truck manufacturer’s ability to design an EV pickup truck with a decent range while keeping the 1000kg payload is limited.
Electric Pickup Truck Benefits
One of the top benefits if the owner has a home charging point is electric pickup trucks will be much cheaper to run than diesel trucks, and, from a future-proofing aspect, access to low or zero-emission zones in towns and cities will be unimpeded.
Electric vehicles often have much more power than their diesel equivalents, and the torque available immediately allows for much more flexibility at slow speeds and when towing, either on or off-road.
There’s also the environmental aspect, and for those working in forests and parks, the lack of noise and emissions will be appreciated by other users of the areas.
Plus, electric pickup trucks run almost silently, providing a more relaxing environment for the driver and other passengers.
You can read more about the benefits of light commercial vehicle leasing here.
Downsides Of An EV Pickup Truck
The biggest downside is that an EV pickup truck’s purchase price or lease cost will be higher than a diesel equivalent.
However, it is predicted that second-hand (residual) values will increase as the market matures; therefore, leasing rates are likely to reduce. As more electric truck manufacturers come to the fore with new products, the increased competition is also likely to reduce the prices of EV pickups.
EV Protection
Battery packs and drivetrains are underneath the vehicle, and for an EV pickup truck, there is the risk that these items could be damaged when the pickup is used in tough, off-road environments.
At the moment, the battery packs are one of the most expensive parts, so replacing them due to damage could be costly.
Towing Capability
Some pickup users will use their vehicles to tow, and whilst most, if not all, electric pickup trucks have the capacity to tow, they may not have the 3500kg capability that most diesel trucks have. Towing will also considerably reduce the range available between charges.
The lack of charging facilities may be a concern for those who work in remote locations for long periods.
Electric Pickup Truck Manufacturers Available Now
It’s been available for a while now, but at the time of writing, the first electric pickup truck to appear on the UK market, the Maxus T90EV, is being discontinued.
It has a 204hp electric motor, a range of over 200 miles, and the critical 1000kg payload. But, and for many prospective buyers, it’s a big but, the T90EV is rear-wheel drive only, and there has been concern that the electric motor located on the rear axle could well be susceptible to damage when the truck is used off-road.
The T90EV is being replaced by the Maxus eTerron 9.
The Maxus eTerron 9 is a much less utilitarian vehicle; the truck has a more luxurious cab and is perhaps aimed at the lifestyle market.
There’s a range of up to 267 miles between charges, and the two electric motors have an impressive combined power output of 436hp, giving this electric 4×4 pickup a 0-62mph acceleration time of just 5.8 seconds – an achievement that would, not many decades ago, have kept pace with some supercars.
This Maxus pickup has four-wheel drive, and the 3500kg towing capacity that users crave, but its payload of around 620 kg makes it tax-unfriendly. Maxus has stated that it is working on improving the payload, recognising how critical this single factor is in the success of the eTerron 9.
Electric 4×4 Pickups For Farmers & Arborists
Those who work in the agricultural and forestry industries will be interested to know that 2025 is likely to see the launch of a fully electric Isuzu D-Max.
Information is sketchy at the time of writing. However, it is understood that the electric pickup truck will have that all-important 1000kg payload, a full-time 4WD powertrain, and a total power output of 174hp, not too dissimilar to the diesel version.
The Isuzu D-Max’s towing capability is expected to be 3500kg, but there is no official word yet on the expected range between charges.
Other mainstream pickup manufacturers, such as Toyota, have nothing in the immediate pipeline, although rumours suggest that the Japanese firm could start production of an electric Hilux by the end of 2025.
Watch out for other EV vehicle manufacturers too.
Kia has been seen testing an electric pickup in California, and Hyundai has publicly stated its intention to launch a fully electric pickup sometime soon. A number of new Chinese brands are also hoping to crack the European market with their EV pickup trucks.
What about hybrid electric pickup trucks?
As yet, no electric hybrid pickup trucks are available in the UK.
However, the Ford Ranger PHEV (Plug-in Hybrid) will be available in the UK in early 2025. It promises a 1000kg payload, 279PS of power, and an electric range of 27 miles.
Although a fully electric Ford Ranger isn’t likely to be available until 2027, this electric hybrid pickup truck offers a ‘best of both worlds’ solution to 4×4 operators.
Chinese firm BYD has previewed the Shark, another plug-in hybrid pickup truck likely to grace the UK shores in the not-too-distant future.
Financing A New Electric Pickup Truck
The best way to finance a new EV pickup depends on several factors, and it is always wise to consult your accountant or a regulated finance broker before making a decision.
If, like many who use a truck purely for heavy-duty work, either off-road or for farming purposes, you prefer to own the truck and run it for a lengthy period, then a simple business loan (to buy it cash) or hire purchase (HP) solution may work.
Keep in mind that there are many options to release cash from existing business assets (asset finance) to purchase a new EV and be protected by the initial manufacturer’s warranty.
Electric Pickup Leases
Leasing a new EV pickup truck has the advantage that fixed rentals allow for accurate budgeting. VAT is only payable proportionately on the initial and monthly rentals, and the truck is likely to be under the manufacturer’s warranty for the majority, if not all, of the term.
Perhaps the biggest advantage of EV leasing is protection from volatile levels of depreciation. As electric pickups are relatively new, their value three or four years down the line is unknown.
A cash or HP buyer may have an unanticipated financial hit when disposing of the pickup truck, but as the finance company takes all the risk with contract hire (or operating lease), there are no nasty surprises lurking down the line.
Evangate FS Sourcing Service
If you would like to get your hands on a new electric pickup truck for use in the UK, we offer a pickup / van sourcing service which means you can leave all the hard work to us.
Our team will look to find the best finance deals and also get the pickup of your choice delivered to your door.
Please get in touch with us for more details by completing the form.
