To me by far the best option because of its high HP. I cannot praise Lanturn enough. My 1600 CP Lanturn takes out around 2 Gyarados before it faints. It's ok w/ Vaporeon, but it's way better w/ Gyarados.
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As mentioned above, Lanturn is pretty good when it comes to bulk and potion efficiency.
But if you're not worried about revives/ potions, any Pokemon with 2 electric moves will do... Gyarados isn't the tankiest mon and his dual weakness is easly exploitable.
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On paper he seems really good with CB/TB. CB having a 1.1 second cd is a bummer for me though. TS or Spark would have been awesome but then he probs woulda been too OP against Gyara and Vape.
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For me 1300 cp wigglytuff can take on 2 2800 cp gyraddos only dodging specials. I cant find any other use for raichu though so use them quite a bit since they are fun to dodge with and they come with different hats :)
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IMO the best moveset for electric is TS/TB or T so id go with mons that have that.