Ford Motor Co F on Tuesday hinted at the possibility of rolling out a smaller electric pickup truck below the F-150 Lightning that it unveiled last month and is scheduled to go into production next year.
What Happened: Ford’s product communications director Michael Levine tweeted to say there’s a “possibility of another all-electric pickup down the road.”
Levine’s tweet was a follow-up explanation to his earlier post, a response to a discussion on the possibility of an all-electric version of the newly launched small pickup Maverick on Tuesday, with the screenshot of a silhouette indicating another compact electric pickup could be in the works.
See Also: Ford's New Maverick: Utility Of A Pickup, Efficiency Of An Econobox
Why It Matters: Ford had last month announced plans to boost spending on electric vehicle development to $30 billion by 2025 under a new turnaround plan and expects 40% car sales by 2030 to be EVs.
The No.2 U.S. automaker, in terms of vehicle deliveries, had then in a presentation shown a silhouette that looked like a small pickup, and resembled its small hybrid pick-up truck Maverick that it launched on Tuesday. Maverick, which can be bought for as little as $20,000, is Ford’s way back into the small-pickup truck category after a decade-long gap when most automakers started making bigger trucks.
Ford is betting customers will see value in Maverick, for its fuel-efficient utility, which it estimates will travel 500 miles with a hybrid powertrain. Battery range and pricing will play a key role in customers migrating to electric trucks, and smaller pickups could help adoption faster.
Price Action: Ford shares closed 1.57% lower at $15.63 on Tuesday.
Photo Courtesy: Ford
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