Following in the environmentally friendly footsteps of Tesla, GM, and Volkswagen, Ford will build two new electric vehicle platforms. Currently Ford makes the 2021 Mustang Mach-E and will release the F-150 Lightning in 2022. Ford hopes to make a name for itself in the EV category, as demand for electric vehicles continues to climb.
According to Reuters, Ford will announce on Wednesday, May 26, 2021 that it will develop two new electric vehicle platforms. One platform will be for cars and small SUVs, while the other will be dedicated to large SUVs and pickup trucks.
Two EV platforms will increase EV possibilities
Having two EV platforms will allow Ford to manufacture a variety of electric vehicles. This should appeal to a range of car shoppers, who may want a bigger vehicle with electric capabilities. Shared platforms mean that Ford can use the same chassis, batteries and motors to meet the needs of a wide spectrum of electric vehicle shoppers.
Ford plans to manufacture nine all-electric cars and small to midsize SUVs, as well as three electric trucks, vans, and large SUVs. Ford began making the 2021 Mustang Mach-E this year, a crossover on its own dedicated electric platform. In addition to the Mach-E, the Mustang coupe could even get an electric update in the future. Ford plans on updating the Mustang Mach-E platform to accommodate new Ford and Lincoln electric SUVs.
The 2021 F-150 Lightning is Ford’s new electric pickup truck, due to be released in the spring of 2022. It will be redesigned in 2025 on a new electric vehicle platform. This platform will allow Ford to make electric versions of both the Expedition and Lincoln Navigator.
Ford may also build a new electric midsize pickup on a platform from Rivian, an electric startup backed by Ford. Additionally, they recently announced a new electric vehicle battery initiative with South Korean battery supplier SK Innovation.
Ford’s future is electric
Ford has said that it will spend $22 billion on electric vehicle production by 2025. Although this is more than many car manufacturers have committed to electric vehicles, it is still behind GM and Volkswagen. No car company matches Tesla, which only produces electric vehicles. Ford’s two new EV platforms will help it catch up.
Ford is already planning on dominating the European EV market. It invested $1 billion in an electric vehicle manufacturing center in Cologne. By 2026 Ford says 100% of its passenger vehicles in Europe will be zero emissions capable, all-electric or plug-in hybrid. Ford also intends to be 100% electric in Europe by 2030.
Europe’s electric vehicle production is ahead of the U.S. because of the penalties that the European Union levies on car manufacturers that do not comply with limits on carbon dioxide emissions.
Other U.S. car companies are already making electric strides
Volkswagen and GM each have two electric vehicle platforms, making it possible for them to release new electric vehicles and electric versions of their current lineups. They will be able to create even more EVs by sharing key components with new designs. The Tesla Model Y is currently the best-selling electric vehicle in the U.S.
Ford’s EV platform announcement will be made at its Capital Markets Day, which investors can attend via webcast. In addition to the EV platform announcement, Ford will detail plans to grow its commercial-solutions business.