Ford Plans to Double Production of Hybrid F-150 Pickup Truck
Ford Motor plans to increase production of its hybrid version of the F-150 pickup truck in response to slower sales of its all-electric vehicles. The company aims to raise sales of the hybrid model to about 20% during the 2024 model year in the US, which could mean tens of thousands more hybrid vehicles. However, achieving this target may be challenging due to a potential strike by the United Auto Workers that could halt production. Ford CEO Jim Farley previously stated that the company would quadruple production of gas-electric hybrids to balance growth, profitability, and returns.
Hybrid F-150 Could Become Best-Selling Hybrid in North America
Kumar Galhotra, president of Ford’s traditional “Blue” business unit, believes that the F-150 could potentially become the best-selling hybrid in North America, a title currently held by Toyota Motor’s RAV4 or Prius. Ford’s renewed focus on hybrid vehicles, including delaying its target of producing 2 million hybrids by 2026, could benefit the union as it retains engine manufacturing jobs.
Hybrid Vehicles and Pricing
Hybrid vehicles typically have internal combustion engines with small batteries that improve performance and fuel economy. Ford has not disclosed specific pricing for the 2024 F-150 hybrid but mentioned that it will be available for the same price as the company’s 3.5-liter V6 EcoBoost engine. The decision to increase production of hybrid models was driven by strong demand, with hybrids accounting for over 60% of Ford Maverick small pickup sales.
2024 F-150 Features and Pricing
Ford also announced a refreshed version of the F-150 for the 2024 model year. The lineup will start at $35,570, and the hybrid variant will offer 430 horsepower and 570 lb.-ft. of torque. The updated model includes a new tailgate design, improved safety and convenience features, and both interior and exterior updates. However, specific details and full specifications have not been released.
