'We're going to electrify the F-Series,' Ford exec says
Ford Motor Co. has confirmed plans to build a fully electric F-Series pickup, which industry observers called an unexpected move that protects the truck franchise against Tesla and other competitors.
“We’re going to be electrifying the F-Series — battery electric and hybrid,” Jim Farley, Ford president of global markets, said this week during a presentation at the Deutsche Bank Global Automotive Conference in Detroit.
In framing the company’s redesign, Farley said a move toward all-electric and hybrid would “futureproof” the billion-dollar F-Series franchise, which he called a “global juggernaut.”
John McElroy, a longtime industry observer and host of “Autoline This Week,” said, “When he says ‘battery electric,' what I’m taking that to mean is a battery electric vehicle. Pure electric," he said, adding: "They’ve said they would have a hybrid plug-in version of the F-150. But this is different than what they’ve talked about in the past.”
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A "battery electric" vehicle means one with no internal combustion engine and no emissions.
Creating an alternative to the combustion engine is crucial if Ford plans to protect its pickup franchise.
“Tesla is talking about coming out with an electric pickup," McElroy said. "And look what Tesla has done in the luxury segment. They’ve clobbered just about everybody.”
“You can’t pooh-pooh that people won't be interested in an electric pickup," he continued. "Rivian Automotive is coming out with an all-electric pickup. These are the crown jewels for Ford Motor Co., the F-Series. Ford has got to react to competitive threats.”
Can't ignore competition
Even if a company can’t make money on electric vehicles initially, a truck leader like Ford cannot ignore potential competitors in a segment driven by the government requirements in California, China and elsewhere, he said.
Michelle Krebs, executive analyst for Autotrader, said she is looking forward to more detail.
“They’ve said they’re going to electrify all their sport utility vehicles and F-150,” she said. "And they’ve said that’s a hedge against higher gas prices.”
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$70 billion a year
Still, if Ford’s truck and van business broke away, it alone would be a Fortune 40 company with more than $70 billion in annual revenue. “That’s a tremendous global business,” Ford's Farley said.
And despite all-new pickups from Ram and Chevrolet Silverado, the F-Series continues to hold and grow its lead as the best-selling truck for the past four decades.
An all-electric strategy is a big part of plans outlined by Volkswagen this week during the North American International Auto Show in Detroit. In discussions about a commercial truck and medium-size pickup alliance, Ford and VW said talks continue on collaboration involving electric and driverless vehicles.
Contact Phoebe Wall Howard: phoward@freepress.com or 313-222-6512. Follow her on Twitter @phoebesaid
This article originally appeared on Detroit Free Press: 'We're going to electrify the F-Series,' Ford exec says
