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Amidst the competitive pricing from all electric car brands around the world, especially from China, Ford has announced that they are researching to launch an electric pickup truck and a small-sized SUV with a starting price of around $25,000.
Ford CEO Jim Farley explains that if they can’t compete with Chinese car manufacturers, 20% to 30% of their revenue will be at risk.
Therefore, Ford has assembled a special team to carry out this plan along with some of the world’s top electric vehicle engineers. The team is led by Alan Clarke, the head of the technical department of Tesla’s best-selling Model Y.
They are currently developing an affordable new electric vehicle platform to power the pickup truck and small-sized electric SUV with even more competitive pricing.
Sources indicate that the first model will be unveiled in 2026, with a starting price of around $25,000. It will compete with the affordable model that Tesla is currently developing.
Initially, this platform will utilize 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 car manufacturers are bracing for 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 stepping up its competition this year.
The Chinese automaker has declared a “liberation” campaign for gasoline-powered cars after releasing a series of affordable electric vehicles. The latest Seagull variant 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 venturing into other markets such as Europe. BYD’s first cargo ship, carrying 3,000 vehicles, arrived in Germany last month, marking its plan to expand operations overseas.
Stellantis CEO Carlos Tavares told reporters last month: “The onslaught of Chinese cars may be the biggest risk that companies like Tesla and us are currently facing.”
In Vietnam, Ford is a well-known car brand among Vietnamese consumers. By the end of 2023, the company sold over 38,800 vehicles, accounting for 10% market share among VAMA members.
Among them, Ford leads the pickup truck segment with the Ford Ranger (accounting for 76% market share), 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 brand’s best-selling model with 16,085 units sold, accounting for 42% of total sales.
According to Electrek
