Ford CEO Jim Farley Says They Need China’s EV Battery IP
China’s CATL is the largest EV battery manufacturer on the planet which is the major reason for the immense success of affordable Chinese EVs
Ford
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The electric iteration of the iconic muscle car has been updated for the model year 2025 with some enticing aspects
Ford 3-Row Electric SUV Axed, Electric Truck Delayed
The Blue Oval is backtracking on its commitments as EV growth slows down.
Amidst EV Sales Slowdown, Ford & GM Focus Back On ICE Cars
The EV plans and targets are being postponed as EV demand is not as high as anticipated.
Ford Capri EV Marks Return Of The Legend In Electric Guise
The iconic Capri moniker has been resurrected in an electric avatar 38 years after the original model was discontinued.
Ford Announces A Profitable $30,000 EV By 2027
The Blue Oval is confident that its affordable electric car will be profitable from the get-go.
Ford F-150 Lightning Outsells The Next 3 Electric Pickup Trucks Combined in Q1 2024
The Q1 of 2024 showed some pretty interesting sales statistics with one electric pickup truck dominating the field. The Ford F-150 Lightning managed to outsell the next three electric pickup trucks combined for the first quarter of 2024. The F-150 has unequivocally been the highest-selling pickup truck in the U.S. for over 4 decades. These are some staggering facts. It sure seems like its electric counterpart is replicating that popularity in the eco-friendly mobility realm. It was able to decimate the competition which included the likes of Tesla Cybertruck, Rivian R1T, Chevrolet Silverado EV and GMC Hummer EV. You might also like: Tesla and BYD Have 34% Share of Global Q1 2024 EV Sales Ford F-150 Lightning Electric Pickup Dominates Sales Charts As per S&P Global Mobility data, Ford managed to register 8,589 units of the F-150 Lightning in Q1 of 2024. This marks a significant 51% growth in comparison to the same time last year. In total, Ford sold 20,223 EVs in Q1 of 2024 including 9,589 units of the Mustang Mach-E. Staying with electric pickup trucks, Tesla dispatched 1,791 units of its futuristic Cybertruck in this same time period. It is intriguing to witness how customers responded to the Cybertruck in the first few months of the launch. Social media has been full of reviews and incidents of people with the Cybertruck since its launch back in December. The other prominent player in this space is Rivian with its R1T pickup truck. In Q1 of 2024, the American startup sold 1,786 units of the R1T. Unfortunately, this marks a decline of 56% in sales in comparison to Q1 of 2023. Finally, the Chevrolet Silverado EV, despite its established success and popularity in the ICE guise, was only able to secure a rather disappointing 803 units in Q1 of 2024. Out of these, 319 came in March itself. Furthermore, the GMC Hummer EV sold only 192 units in March 2024. These statistics confirm the sheer dominance of the Ford F-150 Lightning despite the buzz created by the Cybertruck and others. Apparently, the familiar silhouette and legacy of the iconic truck still have its charm. Model Sales in Q1 2024 Ford F-150 Lightning 8,589 Tesla Cybertruck 1,791 Rivian R1T 1,786 Chevrolet Silverado EV 803 Sales of Electric Pickup Truck in Q1 of 2024 You might also like: Ford Will Have Hybrids In Every Segment – Ford CEO Jim Farley Learn Electric Cars Says This sales data reveals some pretty interesting trends in the EV industry in the U.S. While a lot of people, particularly outside the U.S., might think that Cybertruck has been insanely popular due to its social media presence, the sales charts show a different picture. The veteran F-150 moniker is reigning supreme even in this electric age. Going forward, there seem to be no reasons for a significant shift in this trend, at least in the near term. F-150 Lightning and Mustang Mach-E continue to rake in the numbers on the EV sales charts. It would be interesting to see how other international markets shape up once EVs face mass adoption. In any case, we shall keep an eye out for more such details in this regard.
Ford Will Have Hybrids In Every Segment – Ford CEO Jim Farley
In the earnings call, Ford CEO also informed about the plans to make affordable EVs as part of their next-gen products. Ford CEO Jim Farley says that the company will offer hybrids in every segment of the market. This announcement comes during the earnings call where the executives were addressing the investors. The American auto giant, unfortunately, reported falling EV revenue last Wednesday. The only ray of hope was the growing sales of Mach-E after Ford cut its prices by 17%. This is an unequivocal indication that potential car buyers still hold affordability as the top priority. You might also like: Ford Hits Pause On Electric Pickup Plans, To Focus On Hybrids Instead Ford CEO Plans Hybrids For Every Segment After the run of poor sales of its electric cars, Ford has realized that affordability is the key to encouraging mass adoption. This was affirmed after the sales of the Mach-E picked up post price cuts. Farley mentions that Ford will be profitable with its next generation of products which will include affordable EVs. Also, it will add capacity for its well-established hybrids like F-150 PowerBoost and Maverick Hybrid. Note that Mach-E is the second-highest-selling electric SUV in the U.S. after the Tesla Model Y. At the moment, the cash flow is being attained from the likes of the Maverick, F-150, F-250 and Ranger. Farley says, “To keep the business relevant and reduce emissions, Ford will have hybrids in every segment.” Furthermore, Ford is already trying for affordable electric cars like its Equinox EV. Going forward, the Blue Oval will try to leverage the image and popularity of the aforementioned products to transition to EVs via hybrids. Farley also said, “What’s really exciting for us is we see an opening in the market. We believe we can be profitable at $25,000 or $30,000.” You might also like: Tesla Cars Cheapest To Maintain, Land Rover Most Expensive Learn Electric Cars Says The magic $25,000 number is looking more and more difficult to achieve as even Tesla lost interest in a more affordable EV than its Model 3. It is clear that the balance between profitability and affordability is hard to maintain. In this regard, Ford could leverage its superior and established supply chain, infrastructure and expertise which makes it sure to offer a profitable and sustainable $25,000 – $30,000 EV. Moreover, its Skunkworks Division might have something prepared in this domain. Only time will tell if it is able to achieve this. Also, its replenished focus on hybrids could also be just what was needed to ensure a smoother transition to EVs from ICE cars. Therefore, we should brace for a hybrid onslaught from Ford in the immediate future, along with a slew of affordable EV launches thereafter.
Ford Hits Pause On Electric Pickup Plans, To Focus On Hybrids Instead
Ford becomes yet another legacy carmaker to reassess its ambitious EV plans and the decision to skip hybrids. The next-generation Ford electric pickup truck was slated for launch by next year (2025). However, with the current slowdown in the EV demand, the pickup truck will now arrive in 2026. That’s not all. Its three-row electric SUV has been delayed to come in 2027. It was originally supposed to arrive in 2025 too. This marks a vivid reconsideration of Ford’s original plans of skipping the hybrid cars. You might also like: 4 Electric Pickup Trucks Driven Until They Died – Tesla, Ford, Rivian, Chevy Ford Electric Pickup Delayed Ford CEO Jim Farley announced that the American giant will emphasize deploying capital wisely to plan the future. As a consequence, it has delayed the launches of the two all-electric vehicles. Instead, in fact, the American auto major will focus on hybridizing the existing internal combustion cars in its entire portfolio. He said, “As the No. 2 EV brand in the U.S. for the past two years, we are committed to scaling a profitable EV business, using capital wisely and bringing to market the right gas, hybrid and fully electric vehicles at the right time. Our breakthrough, next-generation EVs will be new from the ground up and fully software enabled, with ever-improving digital experiences and a multitude of potential services.” Even though the existing Ford F-150 Lightning is doing decently on the sales charts, Ford is not confident if the next-gen EVs will experience high demand as the entire EV industry braces for slow growth this year. We also know that Ford will drop the “Lightning” nomenclature for the next-gen electric pickup truck. As for the delays, Ford feels that this will provide the EV segment enough time to mature. Furthermore, it will lead to Ford being able to capitalize on emerging battery technology which will offer the consumers enhanced “durability and better value.” You might also like: Tesla Eyeing Indian Factory With Capacity Of 500,000 EVs Learn Electric Cars Says Prominent carmakers are resorting to re-think their strategy of going all-electric too soon. Many thought that when electrification is the end goal, why invest in a transitioning technology like hybrid cars? But slowly, they are realizing that the growth and demand for EVs might not be as exponential as the industry experts initially predicted. In such a scenario, hybrid cars could provide a perfect stepping stone to reach mass EV adoption in the coming years. Therefore, going hybrid makes a lot of sense. Let us see which other car marques adopt this route going forward.