- Ford plans to double production of a hybrid version of its F-150 pickup truck as sales of the automaker’s all-electric vehicles are slower than expected.
- Ford expects to increase U.S. sales of the V6 hybrid model to about 20% for the 2024 model year
- Production of the F-150 Hybrid was announced in conjunction with Ford’s unveiling of refreshed versions of the truck for the 2024 model year.
2024 Ford F-150 PowerBoost Platinum Hybrid
ford
DETROIT (AP) — Ford Motor plans to double production of a hybrid version of its F-150 pickup truck as the company struggles with slower-than-expected sales of its all-electric vehicles.
Ford expects to increase U.S. sales of the V6 hybrid model to about 20% in the 2024 model year. The automaker declined to release specific production numbers, but it’s likely tens of thousands more hybrid vehicles.
Achieving that production target could be more difficult than usual as Ford and its downtown rivals face a possible strike by the United Auto Workers later this week that could cause some or all of their U.S. factories to close. Ford, General Motors and Stellantis must reach separate agreements with the UAW for 146,000 auto workers by 11:59 p.m. Thursday to avoid possible work disruptions.
The hybrid plans follow Ford CEO Jim Farley’s statement in late July that the Detroit automaker would quadruple production of the company’s gas-electric hybrids while continuing to increase production of electric vehicles, although at a slower rate than previously announced.
2024 Ford F-150 Powerboost Platinum Hybrid
ford
“We are balancing growth, profitability and returns,” Farley said during an earnings conference call. “At the same time, we believe demand for our internal combustion engine portfolio and our hybrid portfolio will be sustained as the growth window may be longer and richer than most expected.”
Kumar Galhotra, president of Ford’s traditional Blue business unit, said Tuesday he believes the F-150 could become the best-selling hybrid in North America, a crown that historically belonged to Toyota Motor’s RAV4 or Prius.
Ford’s renewed focus on hybrid vehicles, including postponing its goal of reaching 2 million by 2026, could be beneficial for the union as it retains many engine manufacturing jobs for the foreseeable future.
Hybrid vehicles typically have internal combustion engines with small batteries that can improve performance and fuel economy. They differ from plug-in hybrid electric vehicles, which have larger batteries and must be connected like fully electric vehicles to take advantage of the benefits of electrification.
2024 Ford F-150 Raptor
ford
Ford declined to release specific pricing for the 2024 F-150 with a 3.5-liter V6 “PowerBoost” hybrid model, which is a minimum $2,500 option on current models and an F-150 Limited option. Model is standard for about $83,000.
John Emmert, Ford truck general manager, said the decision to increase production was due to demand for hybrid models exceeding production capacity for the F-150 and Ford Maverick small pickup truck. At Maverick, hybrid vehicles make up more than 60% of its sales.
“I definitely think the hybrid, our PowerBoost hybrid, will help people transition to all-electric vehicles,” Emmert told CNBC. “Hybrid is a step towards electrification, and for some people electrification is not the best solution right now.”
This isn’t the first time Ford has announced a dramatic change to its engine lineup to boost fuel economy and performance. The automaker is known for its twin-turbocharged EcoBoost engines, which were questioned by many when announced for the 2011 pickup but now power a majority of F-150 vehicles sold.
“We build an F-150 for every use case and every customer’s needs,” Emmert said, pointing out that some customers still need V-8 engines for towing and range, while the all-electric F-150 Lightning is for some rural areas may not be ideal.
Ford said the hybrid engine will be available at the same price as the company’s 3.5-liter V6 EcoBoost engine.
The 2024 Ford F-150 features a new tailgate design that allows customers to access the vehicle’s bed like a traditional door, as well as a traditional fold-down tailgate
ford
The doubling of F-150 hybrid production was announced in conjunction with Ford’s unveiling of an updated version of the truck for the 2024 model year. Ford said the full lineup will start at $35,570, but declined to release further details. The 2023 F-150 starts at $34,585.
The F-150 Hybrid will have available power of 430 horsepower and 570 lb.-ft. Torque. Ford said the hybrid will offer the best of all F-Series pickups except the V8 performance Raptor and Raptor R models, but did not reveal the full range of specifications.
Aside from the exterior and interior updates, the 2024 F-150 features a new liftgate design that allows customers to access the vehicle’s cargo area like a traditional door, as well as a traditional fold-down tailgate and a variety of new safety and convenience features.