General Motors' New Electric Hummer Is a 1,000-Horsepower Tesla Fighter

General Motors (NYSE: GM) unveiled its much-anticipated electric Hummer truck last night — and said that the first year's production of the battery-powered "supertruck" is already sold out.

Production of the Hummer — officially, the GMC Hummer EV — will begin in the fall of 2021 and will gradually ramp up over the following two years. Only the $112,000 top-of-the-line model, called the Edition 1, will be available in the first year. Other, less expensive models will follow in 2022 and 2023, the company announced.

GM opened online reservations for the Hummer on Tuesday night. The Edition 1 sold out in about an hour; other versions were still available as of Wednesday morning.

Source Fool.com