Ford’s attack on electric truck news this week appears calculated to claim the lucrative segment – and get over it New GM Competitor – Ahead of first-quarter financial results Wednesday.
On Monday, the automaker announced the production of the all-electric F-150 Lightning pickup truck, a full-size version of the popular gas-powered F-150 pickup truck. The next day, during a live event to celebrate the F-150 Lightning, CEO Jim Farley revealed that a second, unnamed electric truck was on the way.
The timing of Ford’s announcement may not be coincidental, given that General Motors was hours away from highlighting an all-electric version of the Chevrolet Silverado pickup in its quarterly earnings call with analysts.
This and Ford has invested $50 billion in switching to electricis a clear sign of the automaker’s commitment to becoming a scale leader in electric vehicles while continuing to dominate the pickup truck market.
What analysts and TechCrunch are waiting for
According to data from Yahoo Finance, analysts expect Ford to report first-quarter 2022 earnings of 37 cents per share on revenue of $31.2 billion. That’s a significant drop compared to the $36.2 billion in revenue and 89 cents per share that Ford reported in the same quarter last year.
Ford’s first quarter US sales fell 17.4%due to industry-wide pressures on the global supply chain and the ability to produce enough cars to meet demand.
Complete Ford A Historic restructuring In March, it dismantled its fledgling electric vehicle business from its combustion unit. The EV unit is called Ford Model e, and the combustion work is Ford Blue.
Wall Street has applauded Ford’s decision to reorganize operations and will hear the earnings call for planning updates from the new management team.
“We think investors may be very surprised by the robust levels of cash flow from the Ford Blue business, and the pace of investment in the cash-intensive electric vehicle business over the next three to five years,” Adam Jonas, an automotive analyst at Morgan Stanley wrote in a recent report.
The F-150 pickup truck has been a staunch advocate of Ford’s portfolio for 45 years, being the best-selling truck in America—and for nearly all of those years, the best-selling car in the country, too. However, its annual advantage over the Chevrolet Silverado and Ram 1500 has recently diminished, prompting Ford’s aggressive efforts to promote its trucks this week.
Ford has spent more than a billion dollars to design, develop and build F-150 Lightning is fully electric, but it looks like a 10-number bet will pay off. The F-150 panel alone has the potential to propel Ford far ahead of competitors like General Motors and Rivian, especially since Silverado EVs won’t go into production until next year and Rivian trucks are higher-priced cars.
Success hinges on Ford’s efforts to position its battery-powered electric truck for the traditional F-150 customer base. So far, demand for the Lightning, which will be assembled at Ford’s Rouge Complex in Dearborn, Michigan, has prompted Ford to double its planned annual production to 150,000 vehicles.
We’ll continue to learn more about where, when, and how many Lightning trucks will be built as we search for evidence behind Ford CEO Jim Farley’s claim that the Ford-150 Lightning is a “Type T” moment.
The second electric truck
CEO Farley announces on stage that Ford will build The second electric truck Just as Lightning was beginning to emerge, it was unexpected among enthusiasts and industry watchers. However, the humor left much to the imagination.
Farley did not provide details on the new model, but it will likely be smaller than the full-size F-150 Lightning pickup truck. He said it would be built at a new $5.6 billion for Ford Blue Oval City Industrial Complex in Stanton, Tennessee.
We will adjust any details about the truck’s price, range, name or date of arrival that Ford may share, and will make sure to provide any information available here on the TechCrunch website.