Tesla's soon-to-be-unveiled pickup truck will have a starting price of less than $50,000, it will be a better truck than a Ford F-150 and it will outperform a Porsche 911, according to CEO Elon Musk.

"It just can't be unaffordable," Musk said of the truck during an interview on the Ride the Lightning podcast.

That price would undercut the trucks that electric truck maker Rivian plans to offer next year. The starting price of those trucks is expected to be just under $70,000. Ford is investing $500 million in Rivian and Amazon led a group of investors putting $700 million into the Michigan-based company.

Rivian's trucks are designed especially to excel off-road, something Musk did not boast about for Tesla's truck. Musk did say, though, that it would excel on the road.

"This will be a better truck than an F-150 in terms of truck-like functionality," Musk said, "and be a better sports car than a standard 911. That's the aspiration."

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