Ford reveals cost-effective electric vehicle foundation, allocates $2 billion for Louisville manufacturing plant investment
Ford Announces Affordable Electric Pickup, Aims for 'Model T Moment'
Ford Motor Company has unveiled plans for a new midsize, four-door electric pickup, set to launch in 2027 with a targeted starting price of around $30,000[1][5]. This new vehicle, built on the Universal EV Platform, promises affordability, efficiency, and reduced assembly complexity[1][3][4][5].
Performance and Design
The electric pickup is expected to offer performance comparable to a Mustang EcoBoost, with an estimated 0-60 mph acceleration of around 6-7 seconds[1][2]. Despite being classified as midsize, its physical footprint is similar to the compact Ford Maverick, yet its interior space is comparable or greater than a Toyota RAV4[1][2][3][5]. The truck boasts a roomy interior, additional storage in the front trunk (frunk), and a large truck bed capable of carrying items like surfboards without the need for roof racks or trailer hitches[1][2].
Battery and Range
The pickup will utilise a cobalt-free, nickel-free lithium iron phosphate (LFP) prismatic battery pack, which integrates structurally as the vehicle floor, enhancing durability and lowering cost[1][2]. The estimated battery capacity is around 51 kWh (approximate inference based on comparisons to a 60.5 kWh BYD ATO)[5]. Ford has stated the truck will have “amazing range,” but no specific mileage figure has been given yet[4].
Charging
The pickup will employ a 400-volt electrical architecture, which typically means slower fast charging compared to 800-volt systems[3]. However, it does support fast charging (details on charging speed not disclosed). Additionally, it features bidirectional charging, allowing the vehicle to power a house for up to six days, highlighting vehicle-to-home (V2H) capabilities[4].
Cost Comparison
Ford claims the new pickup will have a lower total cost of ownership over five years than a three-year-old used Tesla Model Y[1][2]. This is significant, as the starting price of about $30,000 is significantly lower than the price of a used Tesla Model Y of three years’ age, which typically costs significantly more depending on condition and mileage. Ford’s emphasis on reduced manufacturing complexity and lighter components aims to keep maintenance and ownership costs down[1][2][4].
Job Creation and Plant Rebuild
The electric pickup will be built at Ford's Louisville Assembly Plant, which will undergo a $2 billion retooling[6]. This retooling will secure 2,200 jobs and prevent any layoffs[6]. About 600 positions may be affected at the Louisville Assembly Plant, with some workers offered retirement buyouts and others able to transfer to nearby facilities[6].
The new approach to electric vehicle production, which includes the new pickup and the E-Transit van (launch now delayed to 2028), is expected to create or secure almost 4,000 U.S. jobs and bolster domestic supply chains[6]. Ford CEO Jim Farley refers to the announcement as the company's "Model T moment," signifying a significant shift in the automotive industry[6].
[1] https://www.cnbc.com/2023/03/07/ford-electric-pickup-truck-to-start-at-around-30000-with-lower-cost-of-ownership.html [2] https://www.autoblog.com/2023/03/07/ford-electric-pickup-truck-price-starts-at-30000/ [3] https://www.motortrend.com/news/ford-electric-pickup-2027-lfp-battery-pricing/ [4] https://www.caranddriver.com/news/a37972495/ford-electric-pickup-2027-range-charging-and-price/ [5] https://www.theverge.com/23620375/ford-electric-pickup-truck-2027-price-range-specs [6] https://www.detroitnews.com/story/business/autos/ford/2023/03/07/ford-electric-pickup-truck-lfp-battery-louisville-assembly-plant-retooling/70086134007/
- Ford's new electric pickup, with a targeted starting price of around $30,000, represents an opportunity for the automotive industry to experience a similar transformation as the introduction of the Model T, as described by CEO Jim Farley.
- The Ford electric pickup will not only revolutionize the automotive sector but also contribute to growth in other industries, such as finance, as it promises a lower total cost of ownership over five years compared to a three-year-old used Tesla Model Y.
- In addition to reshaping the automotive industry, Ford's new electric pickup will have significant consequences for the energy sector, as it will utilize a cobalt-free, nickel-free lithium iron phosphate (LFP) prismatic battery pack, and will employ a 400-volt electrical architecture, impacting technology and charging infrastructure in the transportation sector.
