We're going to invest in segments where we're the dominant player and we have scale, like the F-150, the Transit van, our Mustang."įord has announced plans to ramp production capabilities to 2 million EVs by 2026, as it seeks to become the second-largest seller of such vehicles, behind Tesla, by that time. "We're not going to cede the future to anyone," Farley told CNBC last year. Neither are titles Ford wants to relinquish when it comes to electric pickups. The race to release electric pickups was largely sparked by Tesla and other EV start-ups eyeing the segment, which the Detroit automakers have dominated for decades.įord's F-Series, which includes the F-150 pickup and its larger siblings, has been America's bestselling vehicle for 40 straight years and the industry's top-selling truck for 45 years. About 20% to 30% of initial production will be for those customers, however Farley said he believes the demand from companies and work customers could eventually surpass the consumer market. Unlike the Hummer and R1T, Ford is making it a massive point to target fleet customers with the F-150 Lightning.
Ford eventually expects to build a dedicated EV platform at a new plant in Tennessee. The all-electric 2023 Ford F-150® Lightning® is here Choose between 4 available models including the Pro, XLT, Lariat & Platinum. The parts sharing is also expected to assist with increasing production, but it's opened the company up to criticism that a dedicated EV platform is preferred. And it's a strategy that assisted Ford in getting the vehicle to market. It's a different strategy than GM, Rivian and Tesla, which all have unique electric truck platforms. The Lightning shares parts such as seats, doors and much of the vehicle's interior with its traditional gas-powered siblings to assist with supplier pricing and development. And we have incredible scale," he said.įord's recipe for profitability with the F-150 Lightning is indeed scale. Personal Loans for 670 Credit Score or Lowerįarley said the company is sharing the F-150 internal combustion engine plant, which should help it hit between 150,000 and 200,000 production units a year. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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