Ford’s CEO Jim Farley boldly declares the company’s latest mid-size electric pickup a “game-changer,” taking aim at rival BYD as he promises to undercut its Mexican-built offerings with competitive pricing.
In February, Farley disclosed that Ford had been secretly building a low-cost platform for its next-generation vehicles in a so-called “skunkworks” facility.
The workforce behind the Tesla Model Y, formerly led by Alan Clarke, has been bolstered by a influx of talent from notable electric vehicle manufacturers such as Tesla, Rivian, and Lucid, in addition to Apple, further fueling its continued growth and development.
Ford has officially confirmed that its first electric vehicle (EV) based on a new platform will indeed be a mid-size electric pickup, announced earlier this summer. The company highlighted its latest model, crafted specifically for customers seeking enhanced value for their investment, featuring extended range capabilities and increased versatility.
Ford has announced that its workforce is pricing their eco-friendly EV platforms in line with the industry’s top competitors globally.
Following the release of third-quarter earnings on Monday, Farley provided additional insights for investors to consider in discussions about the media company’s prospects with traders.
Chinese automaker BYD is set to rival Ford with its electric pickup truck.
According to Ford’s CEO, the company is planning to manufacture its new electric pickup truck at a price point comparable to those of Chinese original equipment manufacturers (OEMs) operating in Mexico.
After BYD unveiled its inaugural electric pickup, the Shark PHEV, in Mexico in May?
The new plug-in hybrid pickup truck is poised to take on top-selling models in its class, including the Ford Ranger. Standing at 5,457 millimeters in length, 1,971 millimeters in height, and 1,925 millimeters tall, BYD’s pickup is poised to take on the Ranger, a formidable competitor at 5,370 millimeters long, 1,918 millimeters high, and 1,884 millimeters tall.
According to BYD, the Shark is expected to achieve a maximum all-electric range of up to 100 kilometers (62 miles) under the New European Driving Cycle (NEDC). The combined fuel consumption of the mixed cycle varies at 822 km/litre (522 miles per litre). The starting price of this item is $53,400 or approximately 899,980 pesos. Compared to its competitors, the 2024 Ford Ranger XL (gas-powered) starts at an affordable price of $38,300 or approximately 7.68 million pesos.
The Toyota plug-in hybrid pickup made its debut in Brazil last week, starting at $66,700 (R$379,000). In Cambodia, the vehicle hit the market this week with a price tag of approximately $56,000.
Ford is pushing back its schedule to unveil a new midsize electric pickup truck, now slated for the second half of 2027, a two-year delay from original estimates. Will a delayed expansion into the Chinese market enable Tesla to retain its market share as local players, such as BYD, encroach on its territory?
BYD’s Shark PHEV Pickup: A Revolutionary New Model
The corporation plans to begin manufacturing lithium-iron-phosphate (LFP) batteries at its Michigan facility in 2026, a move expected to help Ford lower production costs.
During the company’s third-quarter earnings call, Farley highlighted that the Skunkworks team based in California had “significantly exceeded” expectations for the platform. The company’s initiative aims to streamline the manufacturing process of cars, ultimately leading to cost savings for consumers. The technology is significantly accelerating the pace of the event’s progression.
Following his flight from Shanghai to Chicago, Farley has spent months piloting the cutting-edge Xiaomi SU7 electric vehicle. Last week, Farley, dubbed the EV “improbable” by some, reiterated his stance, stating he “doesn’t need to give it up.” Meanwhile, Ford’s CEO, on X, emphasized the importance of driving innovation forward, saying, “You’ve got to get behind the wheel to really understand and beat the competition.”
