Scout Motors has 212,000 reservations as $2 billion U.S. plant nears completion
Scout Motors has secured 212,000 reservations for its upcoming electric and hybrid pickup trucks and SUVs. The company is nearing completion of its $2 billion South Carolina plant and aims to convert these reservations into sales before production begins next year.
Why it matters
The success of Scout Motors serves as a bellwether for consumer demand for electric and extended-range vehicles in the U.S. market.
BLYTHEWOOD, S.C. — Electric vehicle startup Scout Motors has notched roughly 212,000 reservations for its upcoming EVs as the company nears completion of its new $2 billion plant here, CEO Scott Keogh told CNBC.
The reservations are for the Volkswagen -backed company's Terra pickup truck and Traveler SUV, which are expected to start full production next year before deliveries begin to customers in 2028.
Reservations do not necessarily translate to sales, as the U.S. automotive industry has learned during the past decade, especially with highly anticipated all-electric trucks such as the Ford F-150 Lightning, Tesla Cybertruck and others that garnered strong interest that didn't lead to meaningful numbers of purchases.
Keogh said he expects Scout could roughly double those reservations by the time customer production begins, but he said the more important thing is to convert early interest into actual sales as production nears.
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