Ford 'investing in America' with development of new EV plant
Ford Motor Company President and CEO Jim Farley joins 'Fox & Friends' to discuss the company's ongoing investment in electric vehicles despite reporting $2.1 billion in losses in 2022.
Ford is ready to send its electric trucks into hyperspace.
The automaker has reconfirmed plans to build an all-new electric pickup at the new BlueOval City manufacturing complex it is building in west Tennessee.
The yet to be revealed pickup will be a follow-up to the F-150 Lightning that is currently on sale.
The vehicle is being developed under the name Project T3, which Ford says stands for "Trust The Truck."
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This early sketch of the F-150 Lightning shows some styling directions the company has considered. (Ford)
"Project T3 is a once-in-a-lifetime opportunity to revolutionize America’s truck. We are melding 100 years of Ford truck know-how with world-class electric vehicle, software and aerodynamics talent. It will be a platform for endless innovation and capability," Ford CEO Jim Farley said.
"PJ O’Rourke once described American pickups as ‘a back porch with an engine attached.’ Well, this new truck is going to be like the Millennium Falcon – with a back porch attached," he said.
The F-150 Lightning has up to 580 hp. (Ford)
The F-150 Lightning is available in models with up to 580 hp that can accelerate to 60 mph in less than four seconds, but other brands have upped the ante with their battery-powered pickups.
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The midsize Rivian R1T offers up to 835 hp, the top GMC Hummer EV has 1,000 hp and both can sprint to 60 mph in about three seconds.
BlueOval City is in west Tennessee. (Ford)
The upcoming Tesla Cybertruck is expected to have similar stats, while the 2024 Chevrolet Silverado EV and GMC Sierra EV will come in 754 hp versions.
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Ford's new truck is scheduled to enter production in 2025, and BlueOval City is being built with the capacity to produce 500,000 annually.
On Thursday, Ford said it expects to lose $3 billion on its EV programs in 2023 as it invests in new models and expanding its manufacturing capability.