FYI: Ford’s California-based secret project—”Skunkworks"—aims to deliver a midsize electric truck, adjusting its EV strategy for better profits.
Things are evolving rapidly at Ford as it adjusts its electric vehicle (EV) strategy to secure profitability. Despite becoming America’s second-best-selling EV brand following Tesla, Ford is making significant changes to its electrified roadmap, invigorating its lineup with innovative yet cost-effective models.
Ford’s New Strategic Direction
Ford recently announced some noteworthy changes to its EV strategy. The Dearborn-based automaker has axed its plan for a three-row electric SUV, opting instead for a hybrid version of the three-row SUV. Additionally, the replacement for the F-150 Lightning has been postponed to 2027.
However, the most interesting revelation concerns Ford’s clandestine "skunkworks" initiative based in California. This project is set to deliver a midsize electric pickup truck, which breaks from the initial expectation of a compact truck.
The Bigger and Unexpected Conversion
At a media briefing attended by InsideEVs, Ford’s executives didn’t divulge specific details regarding the truck, including its exact dimensions or if it has any parallels in the current lineup. Ford’s CFO, John Lawler, refrained from commenting on whether the vehicle will be akin to the Ranger or the smaller Maverick.
In Ford’s typical terminology, "compact" often indicates the size of the Maverick, while "midsize" usually refers to the Ranger. Thus, it’s a reasonable inference that this new truck will be more significant than initially anticipated, likely similar in size to the Ranger.
Strategic Insights and Speculations
CEO Jim Farley has previously stated that the skunkworks team is engineering a low-cost EV platform aiming for profitability within a $25,000 to $30,000 price range. Whether this goal remains for the midsize truck remains uncertain. As Lawler pointed out during the briefing, these price figures are targets rather than firm commitments.
This new electric truck might face competition from upcoming lower-cost EVs set to appear in 2025 and 2026, including models like the Chevrolet Bolt EUV, Jeep Renegade, Kia EV3, and possibly a new Tesla entrant.
Market Position and Potential Impact
Interestingly, if this skunkworks truck is more Ranger-like while the T3 is analog to the F-150, it could drive up its price. As of now, the gas-powered Ranger starts at $32,720, suggesting that the midsize electric truck could wind up in a similar price bracket, adjusted for its electric capabilities.
The sizing choice for this truck might influence aspects like battery costs, range, and capability, potentially drawing a different segment of EV buyers. Historically, the Ranger has lagged behind other midsize trucks like the Chevy Colorado and Toyota Tacoma in sales. The Maverick, despite being smaller, outsold the Ranger almost threefold last year, reflecting a high demand for smaller, versatile urban trucks.
Future Outlook and Launch Timeline
Ford’s midsize electric truck is anticipated to debut in 2027. According to Ford, it will cater to customers seeking better range, utility, and usability for their money. However, specific manufacturing details have not been disclosed yet.
Established nearly three years ago, Ford’s "skunkworks" project has aggregated top talent from leading tech and automotive firms like Tesla, Lucid, Rivian, and Apple. This initiative aims to craft a new, lower-cost EV platform that can produce competitive vehicles in the growing EV market.
Conclusion
Ford’s strategic pivot toward a midsize electric truck indicates a nuanced understanding of market demands and consumer preferences. As the company proceeds with its revamped EV roadmap, enthusiasts and potential buyers will be keenly watching for further announcements and details.
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Written by:
William Kouch, Editor of Automotive.fyi
