Ford's electric F-150 plans come into focus
Ford is offering more info about the design and strategy around its long-awaited entry into the electric truck market, the battery-powered F-150 pickup arriving in mid-2022.
Why it matters: There's new capital coming into the increasingly competitive electric pickup race, with Tesla, Rivian and others bringing new models to market over the next couple of years.
- Ford is spending $700 million to expand the capacity of its existing Rouge Complex to build the electric vehicle and a hybrid version of the popular F-150 line.
The intrigue: Ford is not trying to compete with Tesla or GMC's electric Hummer in the race to build something that would look at home in a sci-fi movie or a Mad Max-ified future.
- Instead, look for something that's very recognizably a regular pickup, albeit a next-wave version.
- “Others are aiming for lifestyle vehicles. Ours is designed and engineered for hard-working customers who want a truck to do a job,” Ford's Kumar Galhotra told reporters this week.
- Galhotra, president of its Americas & International Markets Group, said the design is an "evolution," but will still "capture the DNA of the F-150."
How it works: They said the truck will have more horsepower and torque than any gasoline-powered F-150s, and accelerate more quickly too. They're also touting the vehicle's ability to serve as a power source.
- "Ford will debut new technology on the electric F-150 that allows mobile power generation so customers can use their trucks as a power source for places from campsites to job sites when needed," a release states.
What to watch: The price is still outstanding.