Ford F-150 EV Pitch – Real Truck Power
[Sept. 18, 2020]
This week, Ford held a groundbreaking ceremony for an addition to its Rouge assembly complex that will assemble the upcoming all-electric F-150. Ford teased the F-150 EV back in July 2019 with a video of it pulling more than 1 million pounds of rail cars. On Thursday, it shared more details on investments in a dedicated assembly complex for the electric truck, and advanced manufacturing techniques and training. Most importantly, it showed what its strategy will be in marketing and promoting the F-150 EV once it goes into production in mid-2022.
Ford teases its upcoming F-150 EV.
Incoming CEO Jim Farley sought to distance Ford from the Hummer EV pickup, Tesla Cybertruck, Rivian R1T, and others by emphasizing the “hard-working” aspect of the forthcoming truck, as opposed to just a “lifestyle” vehicle. The dual-motor powertrain will be higher-output than any current F-150 engine, meaning more than 450 hp and 510 lb-ft of torque, with a quicker 0-60 time. Farley hedged slightly on the MSRP, only saying the electric F-150 would have a total cost of ownership 40 percent less than a comparable gas-powered model over its lifetime (the industry benchmark for vehicle lifetime is typically 15 years).
The forthcoming Dearborn-based Rouge manufacturing center is part of Ford’s $700 million investment in building its new F-150 lineup.
While the announced capacities for some of the upcoming electric trucks seem plenty capable, Ford made it clear from a marketing and positioning standpoint, it wanted to distinguish itself from the “luxury naturalist” vibe of Rivian (which it has invested in), and the sci-fi wedge-shaped Cybertruck. The F-Series has earned the distinction of being the best-selling vehicle in the U.S. for 43 consecutive years, and you can bet Ford doesn’t want to squander the equity on its crown jewel in a half-baked science experiment.
The F-150 EV’s implications on the broader EV market are also significant. Although the electric model will likely represent a minority of overall F-150 sales for the foreseeable future, even at only 10 percent of total F-Series sales, could be as many as 80-90,000 units a year. While that would still be less than the total number of global deliveries of the Tesla Model 3 in 2019, it would likely be to an audience and target buyer that would never consider a Model 3, or possibly even a Cybertruck, although comparisons and some cross-shopping is probably inevitable once they’re in showrooms.
If the electric F-150 can prove its “Built Ford Tough” chops with truck shoppers, then the last frontier of electrification among non-commercial vehicles will be conquered. In two years, expect a battle royale of EV trucks.
(Images courtesy Ford)
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