Ford Teases Possibility Of An All-Electric Version Of Newly-Launched Maverick

Ford Motor Co F on Tuesday hinted at the possibility of rolling out a smaller electric pickup truck below the F-150 Lightning that it unveiled last month and is scheduled to go into production next year.

What Happened: Ford’s product communications director Michael Levine tweeted to say there’s a “possibility of another all-electric pickup down the road.” 

Levine’s tweet was a follow-up explanation to his earlier post, a response to a discussion on the possibility of an all-electric version of the newly launched small pickup Maverick on Tuesday, with the screenshot of a silhouette indicating another compact electric pickup could be in the works.

See Also: Ford's New Maverick: Utility Of A Pickup, Efficiency Of An Econobox

Why It Matters: Ford had last month announced plans to boost spending on electric vehicle development to $30 billion by 2025 under a new turnaround plan and expects 40% car sales by 2030 to be EVs. 

The No.2 U.S. automaker, in terms of vehicle deliveries, had then in a presentation shown a silhouette that looked like a small pickup, and resembled its small hybrid pick-up truck Maverick that it launched on Tuesday. Maverick, which can be bought for as little as $20,000, is Ford’s way back into the small-pickup truck category after a decade-long gap when most automakers started making bigger trucks.

Ford is betting customers will see value in Maverick, for its fuel-efficient utility, which it estimates will travel 500 miles with a hybrid powertrain. Battery range and pricing will play a key role in customers migrating to electric trucks, and smaller pickups could help adoption faster. 

Price Action: Ford shares closed 1.57% lower at $15.63 on Tuesday. 

See Also: Ford Raises 5-Year EV Investment Target To $30B After High-Flying F-150 Lightning Launch: All You Need To Know

Photo Courtesy: Ford

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsEventsTechelectric vehiclesEVsFord Maverick
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!