Mike Manley, Chief Executive Officer of Fiat Chrysler Automobiles, stated on Wednesday that the company’s Ram brand is developing an all-electric pickup truck for release to the public.

This announcement, made during the company’s third-quarter earnings discussion in response to a question from an industry analyst, effectively ends ongoing conjecture. Previous statements by Manley had indicated the automaker was considering entering this developing vehicle segment. The Detroit Free-Press initially reported on these comments.

“I confirm that an electrified Ram pickup will be available for purchase, and I encourage you to watch for further announcements regarding the specific timing of its arrival,” Manley explained, without offering further specifics at this time.

Fiat Chrysler announced Wednesday its adjusted earnings for the third quarter were €2.28 billion ($2.7 billion) with revenue totaling €25.8 billion. This financial performance was bolstered by robust sales figures in North America, returning the company to profitability after facing challenges earlier in the year related to the COVID-19 pandemic.

Currently, electric pickup trucks are not offered for sale to consumers. However, this situation is expected to change within the next 18 months as both new companies and established automakers, including GM and Ford, prepare to manufacture and deliver electric trucks. Rivian, an electric vehicle manufacturer supported by Amazon, BlackRock, Cox Automotive, and T. Rowe Price Associates Inc., is aiming to be the first to launch an EV pickup truck. The company initiated a pilot production run at its facility in Normal, Illinois, in July, preparing for the release of its pickup truck and SUV in the summer of 2021. Rivian anticipates beginning deliveries of its R1T electric pickup in June 2021, followed by the R1S electric SUV in August 2021.

In the meantime, Ford plans to manufacture an electric version of its popular F-150 at a new $700 million production facility located at the Rouge complex. Lordstown Motors, a startup that became publicly traded through a merger with DiamondPeak Holdings Corp., showcased a pickup truck prototype in June.

Electric pickup trucks from GM and Tesla are projected to become available in 2022. GM unveiled an electric GMC Hummer pickup in October, with pre-ordering scheduled to begin in 2021. Deliveries of the GMC Hummer pickup are planned for 2022. Tesla’s uniquely designed Cybertruck, first presented in November at the Tesla Design Center in Hawthorne, California, is not anticipated to enter production until late 2022.