Key facts
- Ford plans to launch a midsize electric pickup truck in 2027.
- The target starting price for the electric truck is approximately $30,000.
- The new EV platform is designed for easier and cheaper production.
- Ford's US electric vehicle sales have seen a substantial decrease.
- The company is implementing a new 'assembly tree' production method.
Ford is preparing to launch a new midsize electric pickup truck in 2027, aiming for a starting price of approximately $30,000. This initiative is part of a broader strategy to reset Ford's money-losing EV program and address the persistent cost issue that has made electric vehicles more expensive than their gasoline-powered counterparts.
The automaker has disclosed that the new truck will offer more passenger space than a Toyota RAV4 and include both a conventional truck bed and a front trunk. It is also projected to accelerate as quickly as a Mustang EcoBoost and have a lower five-year ownership cost than a used Tesla Model Y.
This new vehicle is being developed under Ford's Universal EV Platform, which focuses on simpler, cheaper-to-build electric vehicles. The production system will utilize an 'assembly tree' approach, building sections separately before joining them. The trucks will use lithium-iron-phosphate prismatic batteries manufactured in Michigan, with the structural battery pack serving as the vehicle's floor to reduce weight and complexity. Ford states these new builds will require 20% fewer parts, 25% fewer fasteners, and 40% fewer workstations.
The Louisville Assembly Plant in Kentucky is receiving nearly $2 billion in investment for the new trucks, with a total investment of about $5 billion allocated for the truck, factory, and US battery production. Ford has also indicated that the platform could support other vehicle types, such as hatchbacks, SUVs, and cargo vans, though production plans for these are unconfirmed.
Ford's pivot comes amid a challenging period for the US EV market, where sales have declined year-over-year. While some competitors have seen pockets of growth, Ford's own US EV sales have fallen significantly. The company is also facing increased pressure from Chinese EV manufacturers like BYD and Xiaomi, which are introducing more affordable, technologically advanced EVs globally. Ford CEO Jim Farley has reportedly driven a Xiaomi SU7 for six months to study the competition.