Electrified Ford Ranger on the way as Ford lays out EV plans
Ford has announced it will launch a Ford Ranger sized EV ute in 2027, despite pulling the pin on a flagship three-row SUV and shelving other high-profile projects to develop future EVs.
Confirming to investors that it had axed the flagship full-size SUV, a large ute and an entire family of vans, Ford said its future product plans were being tweaked in the wake of cooling demand for EVs.
Previously, the long-range large SUV was supposed to arrive in 2025, before being pushed back to 2027, but now the US car giant says the project has been culled entirely as it pivots to developing its next-generation of hybrid powertrains.
The good news is that instead of developing a large luxurious SUV, Ford’s CEO Jim Farley says it will still push ahead with its plans to develop a new affordable EV architecture that would spin off an all-new mid-sized electric pick-up in 2027.
To ensure the produce is a success, Farley said the auto giant has already set up a special team in California whose sole job was to develop the platform that could spin off what will be known as the Ranger Lightning.
Unlike the Thai-built combustion-powered Ranger, the new ute will be produced at an all-new facility in Tennessee.
Despite its stateside production, it’s thought the new electric pick-up will be offered globally in a bid to capitalise on the huge investment in the new platform.
Other victims of the cost-cutting measures across the car giant include the delaying of the F-150 Lightning replacement that was originally timed to arrive in 2025 but now won’t touchdown until 2027.
Ford said relocating its Mustang Mach-E’s battery production from South Korea to Michigan will also slash costs and could see the sporty Tesla Model Y rival drop in price. Ford says it expects to lose up to $US5.5 billion ($A8.2b) on its EV business this year alone.
To stem the losses, Ford chief financial officer John Lawler said the brand’s annual EV investment would be cut from 40 per cent of total spending to around 30 per cent. “With pricing and margin compression, we’ve made the decision to adjust our product and technology road map,” Lawler said.
