Ford said the hottest new accessory for its trucks is an extension cord. The company said Monday that it expects a third of its truck sales will be electric vehicles within a decade. And the automaker is going all-in on its battery-powered future. In all, Ford said that nearly half of the vehicles it produces will be electric by 2030.
“We see a critical mass of battery electric vehicles on the horizon,” Lisa Drake, a Ford executive, said Monday, per Newsweek.
The Ford 150 leads the truck market in sales and has for more than four decades. And the automaker believes the electric 150 Lightning will continue that dominance. In fact, more than 120,000 people placed reservations to buy it when Ford releases the truck next year. The company said the price of the Lightning begins at $42,000. The existing gasoline models of the truck start at $30,000.
To meet this growing demand, the company plans to double its electric truck output by 2024. Ford and SK Innovation are investing more than $11 billion to build an assembly plant and three battery facilities, Car and Driver said. The companies will build a massive 3,600-acre facility just outside of Memphis, Tennessee, named Blue Oval to construct the trucks. The 1,500-acre BlueOvalSK Battery Park in Kentucky will make the batteries that will they will use. The $7 billion Ford is contributing to this venture is the single-largest investment in the company’s history, Car and Driver said.
These giant facilities will employ more than 11,000 people. Ford expects to begin operations in 2025.
President Biden Wants Half of Cars Sold in 2030 to be Electric
President Joe Biden recently announced that he wants 50 percent of the cars sold in the United States to be electric by 2030. The push is part of his plan to address climate change and greenhouse gas emissions. But it’s also to bolster America’s standing in the global automotive market.
“The question is whether we’ll lead or fall behind in the race for the future. It’s whether we’ll build these vehicles and the batteries that got them to where they are here in the United States … whether or not the jobs to build these vehicles and batteries are good-paying union jobs,” Biden said, according to The Hill. “They have to be made here in America.”
Ford said that the company’s new plants will position them to be meet these goals.
“This is a transformative moment where Ford will lead America’s transition to electric vehicles and usher in a new era of clean, carbon-neutral manufacturing,” said Ford Executive Chair Bill Ford, per The Hill. “With this investment and a spirit of innovation, we can achieve goals once thought mutually exclusive – protect our planet, build great electric vehicles Americans will love and contribute to our nation’s prosperity.”