Ford CEO Jim Farley Offers “No Guarantees” On New Electric Truck
Ford just revealed its promised “Model T moment.” The brand plans to unveil a midsize electric truck, which will be the first vehicle on a new universal EV platform. And Ford is targeting a $30,000 starting price for 2027, which would make it about the same price as the Maverick and less expensive than the combustion Ranger.
To accomplish this, Ford will achieve cost savings with a new streamlined assembly process that Ford CEO Jim Farley says is 40% quicker, all while reducing costs and improving reliability. Ford is investing a collective $5 billion to manufacture this vehicle and its batteries in the United States. This plan sounds like the truck Ford and America need, and it’s ambitious. But will it work out? Even Ford CEO Jim Farley conceded there are “no guarantees.”
Ford CEO Jim Farley Says The New Plan Is A Risky Move
During Ford’s presentation, Farley acknowledged the novelty of this project. Ford has never built dedicated EV platform vehicles. This would be a completely new production method. Typically, it costs more to build vehicles in the United States than elsewhere, which is why Ford builds higher-margin vehicles like the F-150 pickup and Bronco SUV in America, while assembling the more budget-oriented Maverick and Bronco Sport outside the country.
Doing anything new, especially something that could have a Model T-like impact, is bound to be a risk. Farley said Ford was betting big, emphasis there on bet.
“Now why do I say bet? That’s an intentional word, because there are no guarantees with this project. We’re doing so many new things, I can’t tell you with 100% certainty that this will all go just right. It is a bet. There is risk. The automotive industry has a graveyard, littered with affordable vehicles that were launched in our country, with all good intentions. And they fizzled out with idle plants, laid off workers, and red ink.”
Will Ford’s Truck Actually Arrive By 2027?
We don’t think Farley was laying the groundwork for this future Model T project to not work out. However, it is worth noting that Ford is undertaking this project at a time when short-term EV futures appear bleak due to stagnating interest and the current political climate. And Ford’s other electric plans have been all over the place. Ford has canceled its plans for an electric three-row SUV. And Ford’s project T3 electric pickup, initially supposed to enter production in 2025, has been pushed back until 2028.
Ford’s reveal was also notably lacking in detail beyond this new truck, and even then, Farley spoke in generalizations. It will have more interior room than a Toyota RAV4, while still having a pickup bed at the rear and a frunk for storage at the front. It will be faster than an EcoBoot Mustang, have fast-charging capability, and “amazing range.” But will you get all of that at the $30,000 price point Farley mentioned?
There’s a sense the company was under pressure to reveal something about this project now. Escape production, which takes place at the Louisville plant, will wind down. A Ford spokesperson confirmed the company will continue selling the Escape “well into 2026.” The Bronco Sport, which shares the Escape’s bones, will remain in production in Mexico but the Escape’s current assembly line in Kentucky will be retooled for the new midsize truck. It’s still not clear how far along Ford is with this vehicle’s development.
We still don’t have a name for the new truck yet, either. Ford recently trademarked Ranchero, which could be a suitable fit. And Ford did not offer a design rendering or teaser for what this truck will look like. Farley told those in attendance at the Louisville plant that there was much work to do. And with the accelerating pace at which economic and political changes are occurring in the US, there’s certainly plenty of time for plans to go off the rails before 2027 gets here.
Source: Ford
