The short answer
Lightning wins on price (significantly cheaper at comparable trim), traditional F-150 styling, Pro Power Onboard (9.6 kW) for hurricane backup, and Ford dealer + parts ubiquity. Silverado EV wins on range (450 mi for top trims vs Lightning ER 320 mi), more cargo (Multi-Flex Midgate folding bed extension), 350 kW DC fast charging (faster vs Lightning 150 kW), and Super Cruise hands-free. Pick by range need vs price + hurricane backup.
Range
Lightning Standard Range: 240 mi. Lightning Extended Range: up to 320 mi. Silverado EV WT (Work Truck): up to 450 mi (some trims). Silverado EV RST: up to 440 mi. Silverado EV Trail Boss: ~410 mi. Silverado EV wins range decisively at top trims.
Power and payload
Lightning ER: 580 hp / 775 lb-ft, 2,235 lbs payload, 10,000 lbs tow. Silverado EV: up to 754 hp / 785 lb-ft (RST), payload ~1,500 lbs, tow up to 10,000 lbs (WT 4WT) / 12,500 lbs (Max Trailering on some trims). Silverado EV edges Lightning on tow; Lightning edges Silverado EV on payload.
Power export
Lightning Pro Power Onboard: 9.6 kW (ER) — up to 10 outlets, can backup home with Charge Station Pro + Home Integration System for 3-10 days. Silverado EV PowerBase: up to 10.2 kW with bidirectional charging (V2H) for home backup with the right adapter. Both very capable. Lightning is more mature in the home backup integration; Silverado EV catching up with V2H.
DC fast charging
Lightning: 150 kW max DC fast charging — about 36 minutes from 10-80%. Silverado EV: 350 kW max DC fast charging — about 10 min for 100 mi added range. Silverado EV wins on charging speed by a significant margin.
Multi-Flex Midgate
Silverado EV has the Multi-Flex Midgate — fold the rear bulkhead and second-row seats to extend the cargo bed from 5'11" to ~9' (with tailgate down). Unique feature. Useful for long cargo (lumber, kayaks). Lightning has no equivalent.
Interior
Silverado EV interior is the new GM premium-EV design — 17-inch screen, 11-inch driver display, Google built-in. Lightning interior is more traditional truck with the 15.5" portrait screen on top trims. Both very capable; different aesthetics.
Hands-free driving
Lightning: BlueCruise hands-free on mapped highways (subscription). Silverado EV: Super Cruise hands-free on mapped highways (subscription). Both excellent. Comparable real-world experience.
Federal EV credit
Both eligible for the $7,500 federal EV credit at point of sale (subject to income limits and the $80k truck MSRP cap). Some loaded RST and Trail Boss Silverado EV configs exceed the cap. Lightning Pro / XLT / Lariat stay under. Eugenio confirms.
Price
Lightning Pro: mid $40s. Lightning XLT ER: ~$60k. Lightning Lariat ER: ~$70-75k. Silverado EV WT (Work Truck): mid $50s. Silverado EV RST: ~$80k+. Silverado EV Trail Boss: ~$70k+. Lightning is meaningfully cheaper at most trims; Silverado EV WT is competitive with Lightning XLT.
How to decide
Pick Lightning for: lower price, Pro Power Onboard + hurricane backup, traditional F-150 format, more payload, Ford dealer + parts ubiquity. Pick Silverado EV for: range (450 mi top trims), 350 kW DC fast charging speed, Multi-Flex Midgate, Super Cruise. Eugenio at Sunrise Ford handles the Lightning side.