Ford has been talking about this for a few years now. Do a web search for "Ford Q1/2/3/4 2023/4/5 earnings call transcript" and read what the CEO keeps saying, over and over again.
For example, here's a quote from last year:
"We're deep in the development of our next generation of vehicles that we believe will be affordable, high volume and great for our business. On the U.S. retail side, the sweet spot that has emerged is small- and medium-sized trucks and utilities. These vehicles use case fits perfectly for EVs, daily commuters, well suited as a second vehicle in the household.
They require smaller, much lower cost batteries. These vehicles can be offered at lower prices to help adoption of EVs for the customers who really appreciate their lower operating costs. But for larger retail electric utilities, the economics are unresolvable."
Also from last year:
"We believe smaller, more affordable vehicles are the way to go for EV and volume.
Why? Because the math is completely different than ICE. In ICE, the business we've been in for 120 years, the bigger the vehicle, the higher the margin. But it's exactly the opposite for EVs. The larger the vehicle, the bigger the battery, the more pressure on margin because customers will not pay a premium for those larger batteries."
subpixel · 47m ago
No mention of range, but this is a key selling point for people who use a truck vs people who like to drive around in a truck.
Hard to say what the minimum might be. 200 miles?
mlsu · 44m ago
People who like to drive around in a truck are pretty much the exclusive market for new trucks in the USA.
xnx · 58m ago
Sites are really eating up this PR and promises for the future. Ford stock price is the same as 30 years ago.
duxup · 2h ago
I remember when Tesla was promising a cheaper EV. I would not have expected they might get beat to that price point by Ford, with a truck.
rsynnott · 1h ago
FWIW, electric _cars_ at or below this price point are certainly a thing, though possibly not in the US.
aaronbrethorst · 1h ago
So long, Slate Truck, we hardly knew you.
bell-cot · 2h ago
Nice if it happens. Especially if they somehow design a "software-defined" vehicle that's passably secure. And doesn't (say) brick itself if Ford's cloud servers aren't up and available. Or my subscription to that lapses.
Though with some current trends - Ford may really need it both sooner, and cheaper.
For example, here's a quote from last year:
"We're deep in the development of our next generation of vehicles that we believe will be affordable, high volume and great for our business. On the U.S. retail side, the sweet spot that has emerged is small- and medium-sized trucks and utilities. These vehicles use case fits perfectly for EVs, daily commuters, well suited as a second vehicle in the household.
They require smaller, much lower cost batteries. These vehicles can be offered at lower prices to help adoption of EVs for the customers who really appreciate their lower operating costs. But for larger retail electric utilities, the economics are unresolvable."
Also from last year:
"We believe smaller, more affordable vehicles are the way to go for EV and volume.
Why? Because the math is completely different than ICE. In ICE, the business we've been in for 120 years, the bigger the vehicle, the higher the margin. But it's exactly the opposite for EVs. The larger the vehicle, the bigger the battery, the more pressure on margin because customers will not pay a premium for those larger batteries."
Hard to say what the minimum might be. 200 miles?
Though with some current trends - Ford may really need it both sooner, and cheaper.