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In the midst of price competition among all electric vehicle brands worldwide, especially from China, Ford announced that they are studying to launch an electric pickup truck and small SUV with a starting price of around $25,000.
Ford CEO Jim Farley explained that if they cannot compete with Chinese automakers, 20% to 30% of revenue will be at risk.
Therefore, Ford has gathered a special team to implement this plan along with some of the world’s best electric vehicle engineers. The team is led by Alan Clarke, head of the technical department of Tesla’s best-selling Model Y line.
They are currently developing an affordable new electric vehicle platform to power the electric pickup truck and small-sized SUV models at a more competitive price.
Sources say the first model will be launched in 2026, with a starting price of around $25,000. It will compete with the affordable model that Tesla is developing.
This platform will initially use LFP batteries, which are about 30% cheaper than traditional lithium-ion batteries. However, they are also exploring other electric vehicle battery technologies.
Ford’s move comes as some automakers have been wary of the production of affordable electric vehicles from China. After surpassing Tesla in the fourth quarter of 2023 to become the world’s largest electric vehicle manufacturer, BYD is increasing competition this year.
The Chinese automaker declared a “liberation” battle against gasoline-powered cars after launching a series of affordable electric vehicles. The latest Seagull model has a starting price of around $9,700 in China.
BYD currently has no plans to sell passenger electric vehicles in the US and is entering other markets such as Europe. BYD’s first transportation ship, carrying 3,000 vehicles, arrived in Germany last month, marking the plan to expand overseas operations.
Stellantis CEO Carlos Tavares told reporters last month, “The Chinese automakers’ offensive could be the biggest risk that companies like Tesla and us are facing right now.”
In Vietnam, Ford is a familiar car brand to Vietnamese consumers. By the end of 2023, the brand had sold over 38,800 vehicles, accounting for 10% of the market share of VAMA members.
Among them, Ford leads the pickup truck segment with the Ford Ranger (accounting for 76%), the mid-size SUV segment with the Everest (65% market share), and the light commercial vehicle segment with the Ford Transit (62% market share). The Ford Ranger is the best-selling model of the brand with 16,085 units sold, accounting for 42% of total sales.
According to Electrek
