Ford and its European division announced Monday that the company will produce seven new electric vehicles as the automaker steers away from gas engines.
The goal is to get these EVs ready for the market by 2024. Three of the Ford EVs will be cars, with one based on the Volkswagen ID.4 SUV. Four will be vans. The new vehicles will join the Mustang Mach-E. The company also said it will produce only no-emission commercial vehicles by 2035.
The 4-1-1 on New Ford Electric Vehicles
- Company announced these EVs will be for European markets
- Ford will partner with VW for a medium-sized crossover
- These EVs will join the Mustang Mach E
The first Ford new EV will be what’s described as a “medium-sized crossover.’ And it’ll come from Ford’s partnership with VW. The cars will be produced at Ford’s new EV center in Cologne, Germany. Ford said this car should be on the market next year. The next vehicle will be a sports cross-over.
Four of Ford Electrical Vehicles Will Be for Commercial Use
Four of the Ford electric vehicles will be used for commercial vehicles.
Stuart Rowley is in charge of Ford-Europe. When making Monday’s announcement, Rowley said: “Let me assure you these products will absolutely look like Fords, drive like Fords, and the experiences that we provide will give customers a unique purchase and ownership experiences.”
Last week, Ford was touting its F-150 Lightning, its first-ever electric truck. And Ford has every reason to be excited about this new EV hitting the American market. It’ll do more than transport people. It also may lower your electric bill.
Ford is working with an electric company to test whether the F-150 Lightning can return energy to power a home. That’s called bi-directional charging.
CNBC reported that Ford CEO Jim Farley and Patti Poppe, the CEO of Pacific Gas and Electric Co., announced the plans to do testing. If it works, these trucks could charge during the night, when there’s not as much activity on the electric grid. Then during the day, when the grid gets busy, the F-150 can return the power.
Also last week, Poppe announced a pilot program with General Motors. They’ll be producing EVs that can sub as a backup power generator. This means if the electricity goes down, you can use your EV to power parts of your house. Ford said the F-150 Lightning already has the ability to be a generator. It’s called “Intelligent Backup Power.”
The 2022 F-150 Lightning is due this spring. The starting base price for the truck is $40,000. Ford says 200,000 people already are on the list to buy one of the trucks when they hit the market.
Crazy Swings with Oil Prices Make EVs More Popular
Electric vehicles are becoming even more popular thanks to the situation going on with the price of gas. Because of a variety of reasons, oil went up to $123 barrel last week before it started dropping.
Oil dropped to about $101 a barrel for West Texas Intermediate, the American benchmark price. Brent crude, the international barometer, was about $105. The West Texas price traded below $100 for going back up.
There were two reasons why prices dropped Monday. Russia and Ukraine were talking again in possible negotiations. And China locked down more than 50 million because of rising Covid-19 cases.