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Ford (F) to Work on 2nd Electric Truck After F-150 Lightning
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After the roaring success of its all-electric F-150 Lightning pickup truck, Ford Motor Co. (F - Free Report) is once again working on an electric truck, per a report. The second model is expected to hit the market in 2025. Although not much detail came to light, the new EV truck is confirmed to be rolled out alongside Ford Explorer, the Mustang Mach-E and the F-150 Lightning.
It is believed that the new truck will be a styled full-size pickup under the range of F-series vehicles. The automobile will be promoted to tap retail buyers, while the traditional Lightning, manufactured in Michigan, will focus more on generating commercial sales.
In April 2022, Ford CEO Jim Farley broke the news that management was planning to build a second all-electric truck, distinct from the existing F-150 Lightning, at its new Blue Oval City campus in Tennessee.
Moreover, it was stated that Ford will introduce the truck on a completely new nameplate, instead of redesigning the F-150 pickup or electrifying its existing products, such as the popular Maverick and Bronco marques. This clearly indicates that Ford is keen on executing its electrification plans and intends to ramp up production to that end.
Ford’s truck business has been performing exceptionally well so far, contributing considerably to its volumes. The unit could potentially keep the automaker ahead of its rivals.
Ford’s F-series has been the best-selling truck in the United States for nearly five decades. The F-150 Lightning is carrying forward that success story, propelling F for a notable transition into the electric space, post its launch in April 2021.
Apart from the new truck, Ford aims to launch an all-electric Explorer SUV by the end of 2024 and sales will likely begin in 2025. However, given the ongoing volatility in the global auto market, probable hindrances may cause delays. The Explorer EV will be built at the Ontario factory after a previous plan to produce it alongside the Mustang Mach-E in Cuautitlan, Mexico, was aborted.
The report also hinted at the upcoming electric versions of the Bronco SUV and Maverick compact pickup. For the time being, however, a Bronco hybrid version is more likely to be introduced. The hybrid versions of the Bronco Sport and Ranger pickup are also in the making.
Ford is eyeing the second-best spot as an EV maker in the United States despite facing tough competition from other legacy auto players. To bolster electrification efforts, it recently announced initiatives for sourcing battery capacity and raw materials to reach its target annual run rate of 600,000 EVs by late 2023 and more than 2 million EVs by the end of 2026.
Undoubtedly, the US EV space in recent years became a hotbed of cutthroat competition as major automakers joined the race for EVs to carve out a niche for themselves. To be at the top rung of the EV ladder, Ford must sustain its competitive streak with a suite of new products.
Shares of Ford have increased 19.5% over the past year against its industry’s 0.1% decline.
Harley-Davidson has an expected earnings growth rate of 6.9% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 8.5% upward in the past 30 days.
Harley-Davidson’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the mark in one. HOG pulled off a trailing four-quarter earnings surprise of 49.52%, on average. The stock has risen 0.4% in the past year.
LCI Industries has an expected earnings growth rate of 68.1% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 1.3% upward in the past 30 days.
LCI Industries’ earnings beat the Zacks Consensus Estimate in all the trailing four quarters. LCII pulled off a trailing four-quarter earnings surprise of 26.48%, on average. The stock has declined 12.8% over the past year.
BorgWarner has an expected earnings growth rate of 2.9% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 5.2% upward in the past 30 days.
BorgWarner’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. BWA pulled off a trailing four-quarter earnings surprise of 29.45%, on average. The stock has declined 10.5% over the past year.
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Ford (F) to Work on 2nd Electric Truck After F-150 Lightning
After the roaring success of its all-electric F-150 Lightning pickup truck, Ford Motor Co. (F - Free Report) is once again working on an electric truck, per a report. The second model is expected to hit the market in 2025. Although not much detail came to light, the new EV truck is confirmed to be rolled out alongside Ford Explorer, the Mustang Mach-E and the F-150 Lightning.
It is believed that the new truck will be a styled full-size pickup under the range of F-series vehicles. The automobile will be promoted to tap retail buyers, while the traditional Lightning, manufactured in Michigan, will focus more on generating commercial sales.
In April 2022, Ford CEO Jim Farley broke the news that management was planning to build a second all-electric truck, distinct from the existing F-150 Lightning, at its new Blue Oval City campus in Tennessee.
Moreover, it was stated that Ford will introduce the truck on a completely new nameplate, instead of redesigning the F-150 pickup or electrifying its existing products, such as the popular Maverick and Bronco marques. This clearly indicates that Ford is keen on executing its electrification plans and intends to ramp up production to that end.
Ford’s truck business has been performing exceptionally well so far, contributing considerably to its volumes. The unit could potentially keep the automaker ahead of its rivals.
Ford’s F-series has been the best-selling truck in the United States for nearly five decades. The F-150 Lightning is carrying forward that success story, propelling F for a notable transition into the electric space, post its launch in April 2021.
Apart from the new truck, Ford aims to launch an all-electric Explorer SUV by the end of 2024 and sales will likely begin in 2025. However, given the ongoing volatility in the global auto market, probable hindrances may cause delays. The Explorer EV will be built at the Ontario factory after a previous plan to produce it alongside the Mustang Mach-E in Cuautitlan, Mexico, was aborted.
The report also hinted at the upcoming electric versions of the Bronco SUV and Maverick compact pickup. For the time being, however, a Bronco hybrid version is more likely to be introduced. The hybrid versions of the Bronco Sport and Ranger pickup are also in the making.
Ford is eyeing the second-best spot as an EV maker in the United States despite facing tough competition from other legacy auto players. To bolster electrification efforts, it recently announced initiatives for sourcing battery capacity and raw materials to reach its target annual run rate of 600,000 EVs by late 2023 and more than 2 million EVs by the end of 2026.
Undoubtedly, the US EV space in recent years became a hotbed of cutthroat competition as major automakers joined the race for EVs to carve out a niche for themselves. To be at the top rung of the EV ladder, Ford must sustain its competitive streak with a suite of new products.
Shares of Ford have increased 19.5% over the past year against its industry’s 0.1% decline.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Ford carries a Zacks Rank #3 (Hold), currently. Better-ranked players in the auto space include Harley-Davidson (HOG - Free Report) , LCI Industries (LCII - Free Report) and BorgWarner (BWA - Free Report) , each carrying a Zacks Rank #2 (Buy), currently. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Harley-Davidson has an expected earnings growth rate of 6.9% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 8.5% upward in the past 30 days.
Harley-Davidson’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the mark in one. HOG pulled off a trailing four-quarter earnings surprise of 49.52%, on average. The stock has risen 0.4% in the past year.
LCI Industries has an expected earnings growth rate of 68.1% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 1.3% upward in the past 30 days.
LCI Industries’ earnings beat the Zacks Consensus Estimate in all the trailing four quarters. LCII pulled off a trailing four-quarter earnings surprise of 26.48%, on average. The stock has declined 12.8% over the past year.
BorgWarner has an expected earnings growth rate of 2.9% for the current year. The Zacks Consensus Estimate for current-year earnings has been revised 5.2% upward in the past 30 days.
BorgWarner’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters. BWA pulled off a trailing four-quarter earnings surprise of 29.45%, on average. The stock has declined 10.5% over the past year.