Ford Plans To Double Production Of F-150 Hybrid Amid Sluggish EV Sales

Ford Motor Co. (NYSE:F) announced plans to double the production of its F-150 hybrid pickup truck, reacting to slower-than-anticipated sales of its all-electric vehicles. The decision arrived amid potential UAW strike threats that could disrupt production in U.S factories, CNBC reported. 

Ford is aiming to ramp up sales of the V-6 hybrid model during the 2024 model year to about 20% in the U.S. However, specific production figures were not disclosed.

The move follows Ford CEO Jim Farley‘s statement in late July, outlining the company’s plan to quadruple the production of gas-electric hybrids while increasing EV production at a slower pace than previously announced.

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Furthermore, the company is optimistic about the F-150 hybrid’s market potential. Kumar Galhotra, president of Ford’s traditional “Blue” business unit, expressed his belief that the F-150 could become the best-selling hybrid in North America.

The company didn’t disclose specific pricing for the 2024 F-150 3.5-liter V-6 “PowerBoost” hybrid model, which currently is a $2,500 option and standard on an approximately $83,000 F-150 Limited model.

John Emmert, Ford truck general manager, noted the hybrid models’ popularity as a significant factor in the decision to increase production.

Ford also announced that the hybrid engine will be available for the same price as the company’s 3.5-liter V6 EcoBoost engine, further enhancing its appeal to potential buyers.

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