CEO Mary Barra said Thursday that GM would have an electric pickup truck for sale by the fall of 2021.

Barra's remarks came during an investor meeting, just hours before Tesla revealed its own electric pickup truck.

"General Motors understands truck buyers, and we also understand people who are new coming into the truck market that view it as a lifestyle vehicle".

GM's competition in electric pickup trucks isn't limited to Tesla. Ford is also developing an electric version.

According to CNN, GM has announced plans to have 20 electric vehicles globally by 2023.

The automaker is also working with Bechtel to build thousands of charging stations across the United States.

The truck will cost $52,500 before tax credits.