Ford’s first generation of electric vehicles, like the Mustang Mach-E and F-150 Lightning, provided the automaker with crucial lessons. They learned what customers wanted, but also faced the harsh reality of manufacturing EVs from the ground up. For Ford and other established automakers, customer demand often fell short of industry projections, and the costs were staggering, leading to billions in write-offs.
Instead of giving up, the company has pivoted. The new focus is a universal electric vehicle platform developed by a specialized team in California. The goal is simplicity from the start, aiming for profitability with the very first model. That model will be a midsize electric pickup truck with a target price of around $30,000.
This new platform represents a significant shift in design and assembly. Compared to a typical Ford vehicle, it uses 20% fewer parts, which includes 25% fewer fasteners. On the factory floor, the streamlined build process has eliminated 40% of the workstations. This reduction in complexity and labor directly translates into a vehicle that is cheaper to manufacture.
Aerodynamic efficiency was another major priority. Ford recruited more than half of the platform’s aerodynamics team from Formula One racing. The result, according to the company’s internal testing, is a pickup with an aerodynamic efficiency over 15% better than any other on the market. Less drag means the vehicle uses less energy to move, which extends its range and allows for a smaller, lighter battery.
To keep costs down, the truck will use lithium iron phosphate (LFP) batteries. This chemistry is less expensive and cobalt-free, trading some energy density for significantly lower cost and improved safety. With batteries making up more than 40% of an EV’s total cost, reducing this expense is the most powerful way to make electric vehicles affordable.
However, the strategy is not without its challenges. While the LFP battery cells will be produced domestically at a new facility, the technology is licensed from a leading Chinese battery maker. This has drawn attention from lawmakers and safety advocates concerned about China’s role in the American supply chain.
The choice of a pickup truck body style also carries some risk. The company points to the success of its compact gas-powered Maverick pickup as a learning opportunity. They believe that offering a capable, efficient electric pickup with a cabin larger than a best-selling SUV, at an accessible price point, is a unique proposition. The question remains whether American buyers are ready for a compact electric pickup in large numbers, especially when affordable EV sedans and hatchbacks, while popular, haven’t yet achieved mass-market scale.
Despite the risks, Ford is betting that its marketplace experience and this new, simplified approach will be a winning formula, with the platform potentially leading to more affordable electric vehicles in the future.