What the cheapest electric trucks cost today

The Chevrolet Silverado EV and Ford F-150 Lightning are the two most affordable electric trucks currently sold in the United States, with starting prices around $39,000 to $55,000 depending on trim level and current incentives. The Chevrolet Equinox EV, while technically a midsize SUV rather than a truck, costs less than either and starts near $35,000. Pricing changes frequently based on manufacturer discounts, dealer inventory, and federal tax credits, so the actual cost you pay depends on when you shop, where you live, and which model you choose.

Electric truck prices have dropped significantly since 2022, when the F-150 Lightning started at over $52,000 for the base model. Chevrolet's entry into the market with the Silverado EV at a lower price point has pushed the entire category downward. However, "cheapest" is only part of the decision—range, charging speed, towing capacity, and how often you actually need a truck bed all matter more than the sticker price alone.

Key Takeaways

  • The Chevrolet Silverado EV starts around $39,000 before incentives and is currently the lowest-priced electric truck with a full truck bed.
  • The Ford F-150 Lightning starts around $55,000 and offers more charging infrastructure and dealer support across most states.
  • Federal tax credits up to $7,500 may reduce your actual cost, but you must meet income limits and the vehicle must be assembled in North America.
  • Used electric trucks from 2022 and 2023 model years can cost $10,000 to $20,000 less than new models, though battery warranty coverage varies.
  • Total cost of ownership—fuel, maintenance, and electricity—is often lower than gas trucks even at higher purchase prices.

Chevrolet Silverado EV versus Ford F-150 Lightning

The Chevrolet Silverado EV launched in 2024 with a starting price of approximately $39,000 for the base RST model. It offers 200 miles of EPA-estimated range on the standard battery and up to 300 miles with the extended battery. The truck seats five, has a standard 6.5-foot bed, and can tow up to 8,000 pounds. Chevrolet designed it to undercut the F-150 Lightning on price while keeping the core truck features intact.

The Ford F-150 Lightning starts around $55,000 for the base Regular Cab model and has been in production since 2022. It offers 240 miles of range on the standard battery and up to 320 miles with the extended battery. The F-150 Lightning seats either two (Regular Cab) or five (SuperCrew), has a 5.5-foot bed, and can tow up to 14,000 pounds. Ford has built out more charging partnerships and dealer service locations, which matters if you plan to charge on road trips or need warranty work.

The price difference is real, but so is the capability gap. The F-150 Lightning tows significantly more weight and has more charging options through Ford's BlueOval Charge Network. The Silverado EV is newer, so long-term reliability data is limited. If you need maximum towing capacity or live in a rural area with sparse charging, the F-150 Lightning's extra cost may be worth it. If you want the lowest entry price and primarily use the truck locally, the Silverado EV makes financial sense.

How federal tax credits affect the actual price you pay

The federal tax credit for electric vehicles is worth up to $7,500 and applies to both the Silverado EV and F-150 Lightning, but you must meet specific requirements. The vehicle must be assembled in North America, the battery components must meet domestic content thresholds that increase each year, and your household income cannot exceed $300,000 (married filing jointly) or $150,000 (single filer). These limits are strict and are verified when you file your taxes.

The credit is a tax credit, not a rebate—you claim it on your tax return the year you purchase the truck, and you receive the money back when you file. Some dealers offer point-of-sale credits that reduce your purchase price when ready, but this requires the dealer to verify your income and may be able to access before you drive off the lot. Not all dealers participate in this program, so ask before you buy.

The Silverado EV currently qualifies for the full $7,500 credit, bringing the effective starting price to around $31,500 if you meet income limits. The F-150 Lightning also qualifies, reducing its starting price to around $47,500. However, battery content rules tighten each year, so a truck that qualifies today may not may have access to in 2026. Check the current rules on fueleconomy.gov before you make a final decision.

Used electric trucks and what to watch for

Used F-150 Lightnings from 2022 and 2023 model years typically sell for $35,000 to $45,000 depending on mileage and condition. This is a significant discount from new prices and can be a smart move if you are comfortable with a vehicle that has already depreciated. The main risk is battery health—electric truck batteries degrade over time, and a truck with 50,000 miles may have lost 5 to 10 percent of its original range.

Ford's battery warranty covers the battery for eight years or 100,000 miles, whichever comes first, and covers degradation beyond 70 percent of original capacity. When you buy used, the remaining warranty transfers to you, so a 2022 truck with 30,000 miles still has six years of coverage left. Always request the vehicle's battery health report from the dealer or have an independent mechanic test it before you buy.

The Silverado EV is too new for a significant used market yet, so your options are limited to recent model year inventory or dealer trade-ins. As the truck ages, used prices will fall, but you will also have less warranty coverage remaining. If you find a used Silverado EV, verify the battery warranty status directly with Chevrolet before committing.

Total cost of ownership: purchase price is only part of the picture

Electricity costs roughly one-third to one-half as much as gasoline per mile driven, depending on your local electricity rates and how efficiently you charge. If you charge at home on a standard household plan, you might pay $0.04 to $0.06 per mile. At a public fast charger, the cost rises to $0.08 to $0.12 per mile. A gas truck at current fuel prices costs roughly $0.10 to $0.15 per mile, so the fuel savings are real but not dramatic.

Maintenance costs are significantly lower for electric trucks. There is no oil to change, no transmission fluid, no spark plugs, and brake wear is reduced because regenerative braking does most of the stopping. Tire wear is higher due to the truck's weight, but overall maintenance costs run 40 to 50 percent lower than comparable gas trucks. Over 100,000 miles, this adds up to $3,000 to $5,000 in savings.

Insurance costs for electric trucks are comparable to gas trucks of similar size and price, though some insurers charge slightly more due to higher repair costs for specialized components. Depreciation is the wildcard—electric truck values are still volatile because the market is young. A truck that costs $55,000 today might be worth $35,000 in three years, or it might hold value better as the used market matures. Factor this uncertainty into your decision if you plan to sell or trade in within five years.

Charging infrastructure and real-world range limitations

Both the Silverado EV and F-150 Lightning come with a home charging cable, but installing a dedicated 240-volt charger at home costs $500 to $2,500 depending on your electrical panel and how far the charger is from your service entrance. This is not required—you can charge on a standard 120-volt outlet, but it adds only 2 to 3 miles of range per hour and is impractical for daily use. If you do not own your home or cannot install a charger, public charging becomes essential.

The F-150 Lightning has access to Ford's BlueOval Charge Network plus Tesla's Supercharger network (with an adapter), giving it roughly 50,000 public chargers nationwide. The Silverada EV uses the NACS standard and can access most major networks, but Chevrolet's charging partnerships are still being built out. For daily driving under 200 miles, this difference matters little. For road trips or if you rely entirely on public charging, the F-150 Lightning's larger network is an advantage.

Real-world range depends on weather, driving style, and terrain. Cold weather reduces range by 20 to 40 percent, so a truck rated for 240 miles might deliver only 150 miles in winter. Towing also cuts range significantly—expect 30 to 50 percent less range when pulling a trailer. If you live in a cold climate or tow regularly, buy a truck with more range than your typical daily needs, not one that barely meets them.

When a cheaper gas truck or used EV might make more sense

Electric trucks are not the right choice for everyone, even at lower prices. If you tow heavy loads regularly, need a truck that works reliably in remote areas without charging infrastructure, or drive fewer than 10,000 miles per year, a used gas truck or a new gas truck on sale may cost less over its lifetime. A used Ford F-150 or Chevrolet Silverado from 2015 to 2018 can be found for $15,000 to $25,000 and will run for another 100,000 miles with basic maintenance.

If you want an electric truck but cannot afford the Silverada EV or F-150 Lightning, waiting for additional models to enter the market is an option. Rivian's R1T starts around $71,000 and offers more luxury features, but it is more expensive. GMC's Sierra EV and other models are coming, and as competition increases, prices will likely fall further. Checking back in six to twelve months may reveal cheaper options.

Leasing an electric truck is another path if you want to avoid the purchase price and depreciation risk. Lease payments for the F-150 Lightning start around $500 to $700 per month depending on the deal, which spreads the cost over three years and includes warranty coverage. Leasing makes sense if you drive fewer than 12,000 miles per year and want to avoid battery degradation concerns, but it does not build equity.

Frequently Asked Questions

Can I get the $7,500 tax credit if I buy a used electric truck?

No. The federal tax credit only applies to new vehicles purchased from a dealer. Used electric trucks do not may have access to, though some states offer their own rebates for used EV purchases. Check your state's environmental or energy office website to see what programs exist in your area.

What is the difference between the Silverado EV and the Equinox EV, and why is the Equinox cheaper?

The Equinox EV is a midsize SUV with a cargo area, not a truck with a bed. It costs less because it is smaller, lighter, and uses a smaller battery. If you need an actual truck bed for hauling, the Silverado EV is the right choice. If you just need cargo space, the Equinox EV saves money and offers better fuel economy.

How long does it take to charge an electric truck from empty to full?

At home on a 240-volt charger, a full charge takes 8 to 12 hours. At a public fast charger, you can add 200 miles in 20 to 30 minutes, though charging slows as the battery approaches full capacity. Most owners charge overnight at home and use fast chargers only on road trips, so charging time is rarely a practical problem for daily driving.

Do electric trucks work in cold weather, and will I lose range?

Yes, they work in cold weather, but range drops significantly—typically 20 to 40 percent in freezing temperatures. The battery loses efficiency, and cabin heating uses extra power. If you live in a cold climate, buy a truck with more range than your typical daily needs to account for winter losses.

What happens to the battery after 10 years, and how much does it cost to replace?

Most electric truck batteries retain 80 to 90 percent of their original capacity after 10 years under normal use. Replacement batteries are expensive—$10,000 to $15,000 or more—but this is rare within the warranty period. Ford and Chevrolet both cover battery degradation beyond 70 percent capacity for eight years or 100,000 miles, so most owners will not face this cost during ownership.