Ford Motor Company has launched a big new front in the fight to dominate the fast-growing electric vehicle market, relying on one of the world’s most strong business franchises. Ford unveiled the Lightning, an electric version of its famous F-150 pickup truck, in a splashy demonstration Wednesday night at a Ford plant in Dearborn, Mich. According to a report conducted by Ford, the F-Series vehicles, which include the Ford F-150, are the best-selling vehicle line in the United States, generating around $42 billion in sales annually — more than twice what McDonald’s did last year.
It was one of the most eagerly awaited new car debuts, drawing comparisons to Ford’s Model T, the car that made cars affordable to the masses. Ford has a lot riding on the performance of the new car. If it can make the F-150 Lightning a major seller, it would hasten the world’s transition to electric cars, which experts believe is necessary to prevent the worst effects of climate change.
Insights of Ford F-150:
The primary source of greenhouse gas emissions in the United States, and one of the largest in the world, is tailpipe pollution from cars and trucks. However, if the Lightning does not sell well, it may indicate that the transition to electric vehicles would take even longer than President Biden and other world leaders anticipate in order to meet climate targets.
According to Michael Ramsey, a Gartner analyst, “the F-150 would place electric vehicles in a completely different realm.” “Not only is it significant for Ford, but it is also significant for the entire industry. The F-150 going electric is a huge step in the right direction if you want to electrify the entire car fleet in the United States.”
The F-150 Lightning marks a change in the car industry’s electric vehicle drive, which has so far been focused on niche markets. For many years, Tesla has expanded steadily by selling flashy sports cars to the wealthy and early adopters. It sold nearly 500,000 cars worldwide last year, a little more than half as many as Ford’s F-Series vehicles. Small cars that cater to environmentally conscious buyers, such as the Chevrolet Bolt and Nissan Leaf, have also sold well as electric versions.
The F-150 Lightning, on the other hand, is targeted at small businesses and corporate consumers who buy a lot of rugged trucks, such as building contractors and mining and construction firms. These buyers are usually interested not only in the truck’s sticker price, but also in how much it costs to run and maintain it. Electric vehicles are more expensive to purchase but less expensive to own than traditional cars and trucks because they have less components and power is less expensive per mile than gasoline or diesel.
In an interview, William C. Ford Jr., the company’s chairman and a great-grandson of Henry Ford, said, “There are a lot of major fleets that have been searching for green options but haven’t had any answers until now.” The truck is scheduled to hit the market next spring, with a starting price of $39,974 for a model capable of 230 miles on a single charge. The base model has a range of 300 miles and costs $59,974.
The vehicle will deliver more torque — in essence, quicker acceleration — than any previous F-150 and will be capable of towing up to 10,000 pounds thanks to an electric motor mounted on each of its axles. According to Ford, the battery pack can produce 9.6 kilowatts of electricity, enough to power a home for three days during a power outage.
Specific Features of Ford F-150:
- The Lightning would be able to power electric saws, equipment, and lighting for contractors and other commercial truck users, eventually eliminating or reducing the need for generators at work sites. There are up to 11 power outlets in total. Ted Cannis, general manager of Ford’s North American commercial vehicle company, said, “It’s made to be on the job site and to work all day.”
- The truck is a few thousand dollars less expensive than a Tesla Model 3 and even the company’s own Mustang Mach-E sport utility vehicle. The overall cost is also lower since Ford electric vehicle buyers are also eligible for the $7,500 federal tax credit available for E.V. purchases. California, New Jersey, and New York, for example, provide additional rebates of up to $5,000.
- Mr Cannis claims that Ford was able to keep the electric model’s price low by repurposing seats and other parts from traditional F-Series trucks. Ford usually sells 900,000 of these vehicles each year, resulting in significant cost savings.
- Electric pickups are also being developed by GM and start-ups such as Rivian. Rivian has stated that deliveries of its R1T truck will begin this summer, and GMC expects to begin selling the GMC Hummer pickup later this year. The number of people who would buy electric pickups is a huge concern. Trucks like the Ford F-150, Chevrolet Silverado, and Ram are typically purchased by people who have a lot of stuff to haul or by people — generally men — who enjoy driving trucks.
The Biden administration’s aim to reduce greenhouse gas emissions, increase domestic production, help unions, and accelerate the transition to electric vehicles is closely aligned with Ford’s proposal to manufacture an electric truck in the Midwest with union labor. The Lightning’s battery will be manufactured in Commerce, Georgia, by SK Innovation, a South Korean corporation.
The administration’s $2 trillion infrastructure plan provides funding to help construct half a million charging stations as well as incentives for electric vehicle purchases. Ford has stated that it will invest $22 billion in electric vehicle development over a five-year period ending in 2025. Other automobile manufacturers are following suit. G.M. is investing a similar amount and has stated that it plans to manufacture only electric cars by 2035, setting a deadline for the internal combustion engine, which has dominated the car industry for more than a century, to be phased out.
Chevrolet recently unveiled an improved version of its electric vehicle, the Bolt. It also intends to produce an electric version of its iconic Silverado pickup truck, which is one of the F-150’s main competitors.