An electric powertrain includes an electric power source, an electric motor and a multi-speed transmission. The powertrain has an electronic controller. The controller determines a respective rimpull torque limit for the operating gear of the multi-speed transmission and determines whether the rimpull torque demand exceeds the rimpull torque limit. Upon determining that the rimpull torque demand exceeds the rimpull torque limit, the controller acts to either (i) shift the multi-speed transmission to a gear in which the respective rimpull torque limit is at or above the rimpull torque demand or (ii) reduce the electric motor torque command to a level for which the rimpull torque is below the respective rimpull torque limit for the operating gear of the multi-speed transmission.