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from the It's-electric.-Boogie-woogie-woogie! dept.
Ford Motor Co. confirmed plans to build a fully electric F-Series pickup, which industry observers called an unexpected move that protects the truck franchise against Tesla and other competitors.
“We’re going to be electrifying the F-Series — battery electric and hybrid,” Jim Farley, Ford president of global markets, said Wednesday during a presentation at the Deutsche Bank Global Automotive Conference in the MGM Grand in Detroit.
In framing the company’s redesign, Farley said a move toward all-electric and hybrid would “futureproof” the billion-dollar F-Series franchise, which he called a “global juggernaut.”
[...] Creating an alternative to the combustion engine is crucial if Ford plans to protect its pickup franchise.
“Tesla is talking about coming out with an electric pickup. And look what Tesla has done in the luxury segment. They’ve clobbered just about everybody,” McElroy said. “You can’t pooh-pooh that people won't be interested in an electric pickup. Rivian Automotive is coming out with an all-electric pickup. These are the crown jewels for Ford Motor Co., the F-Series. Ford has got to react to competitive threats.”
Ford recently announced it would exit the market for cars to focus on its pickups. This announcement is another sign of the shockwaves Tesla has sent throughout the automotive industry.
[Ford is likely also keeping a watchful eye on Workhorse. --Ed.]
(Score: 2) by JoeMerchant on Friday January 18 2019, @01:42AM
EV is the new hotness - the street will be discounting stock of vehicle companies that don't have an EV roadmap. This (the EV F series) is to protect Ford executive level options value. In reality, this is the investors' proxies (fund managers) telling Ford how to run their company.
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