In an unexpected twist, Jim Farley, the CEO of Ford Motor Company, revealed a substantial investment of $5 billion aimed at developing a cutting-edge “universal” electric vehicle (EV) platform. This initiative is anticipated to bring about 4,000 new jobs across two production sites!
What’s exciting about this new platform is that it promises to lower the complexity of parts while slashing manufacturing costs. Plus, it will create a versatile environment for delivering an array of affordable electric vehicles that are heavily software-driven.
The star of the show will be a brand-new electric pickup truck featuring four doors. According to Farley, this truck will provide more passenger space than a Toyota RAV4, along with a nice front trunk and a secure truck bed.
“You’ll really appreciate the lockable truck bed where you can store your surfboards and gear without the need for a roof rack or hitch. This is a game-changer!” Farley noted in his announcement.
The impressive news doesn’t stop there—the price tag for this new beast of a truck will hover around $30,000. With its battery positioned low in the floor, the truck will feature a lower center of gravity. This design, combined with powerful electric motors, provides instant torque that aims for adrenaline-pumping 0-60 mph times akin to a Mustang EcoBoost.
Ford is cutting back on parts, boasting a promised reduction of up to 20% in component requirements compared to standard vehicles, including cutting down 25% on fasteners and 40% on manufacturing workstations during assembly, resulting in 15% faster build times!
Such innovative efficiency drew some comparisons to Ford’s original assembly line breakthroughs, with the brand calling this moment a “Model T moment.” Furthermore, they’re highlighting a reduced total cost of ownership over five years than what you’d expect from a used Tesla Model Y.
Farley also introduced other innovations including a wiring harness that is over 4,000 feet (1.3 kilometers) shorter and weighs 22 pounds less compared to the first generation electric SUV’s setup.
The truck will run on advanced prismatic lithium iron phosphate (LFP) batteries, which are cobalt-free and nickel-free. Not only do these batteries help with cost, space, and weight-efficiency—serving as the vehicle’s structure—but they also enhance handling and cabin quietness while freeing up extra interior space.
More details are on the way, as Ford aims to launch this exciting electric truck by 2027.
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