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Why is everyone building an electric pickup truck?

  • General Motors dropped a pretty penny to debut its new electric Hummer during the World Series on Tuesday, with a two minute, 15 second ad that took up an entire commercial break.
  • Tesla staged a smashing reveal for its Cybertruck pickup nearly a year ago, but it hasn’t yet built the factory in Texas that will make the thing—reservation holders can probably expect their truck late next year.
  • Josh Tavel, General Motors’ lead engineer for electric vehicles, has some ideas about the Hummer buyer.
  • General Motors wants the car aficionados and gearheads to pay attention: Convince them to go electric, and the whole world might follow.
  • In many ways, electric pickups like the Hummer, the Cybertruck, and the Ford F-150 do make sense.
  • “If suddenly everyone wants an electric truck, that would put automakers already making them in a favorable position,” says Caldwell, the Edmunds analyst.

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UPS to Offer Employees a Way to Save for Emergencies

  • is expected to announce Thursday a plan to offer nearly 100,000 of its workers a way to save for emergencies within its 401(k) plan, becoming one of the largest U.S. employers to join a trend that reflects concern over the impact of workers’ financial problems on their ability to retire.
  • The program gives UPS employees the option to divert a portion of their paychecks into rainy-day funds within their 401(k) plans.
  • In recent years, a growing number of employers have grown concerned that if employees are unable to cover unexpected expenses, they may resort to raiding their retirement savings early, said Timothy Flacke, executive director of Commonwealth, a nonprofit that builds tools to help low-income workers save.
  • With financial support from BlackRock Inc.’s foundation, Commonwealth and other nonprofits are working with companies including UPS, Etsy Inc.
  • to develop emergency savings initiatives.

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