GM has 140,000 reservations for Chevrolet Silverado EV

General Motors now has about 140,000 reservations for the upcoming electric version of its Chevrolet Silverado pickup, CEO Mary Barra said during GM’s first-quarter earnings presentation on Tuesday.

GM has promised that the Silverado EV will have at least 400 miles of range, new fast-charging capabilities, and a four-wheel steering system when it goes into production early next year.

GM is positioning the Silverado EV as a direct rival to Ford Motor‘s electric F-150 Lightning. Ford had about 200,000 reservations for the F-150 Lightning when it stopped taking new orders for the truck in December. Production of the Lightning began earlier Tuesday.   

GM’s shares were up about 0.7% in after-hours trading. The company reported a decline in first quarter net earnings and profit margin Tuesday afternoon.