FORD'S HIGH STAKES F-150
|Source: Ford 2020 F-150|
Competition is Fierce
Ford has a lot riding on its new traditional and hybrid versions of the 2021 F-150 pick-up truck to be unveiled on Thursday night. In fact, they're "betting the farm on it". The F-150 is the top selling vehicle in the US and it is Ford's cash cow. The F-150 equaled 37% of Ford's 2.4 million vehicles sold in 2019.
Ford's Financial Strategy
Ford is betting the new F-150 will help it profitably grow the commercial side of Ford's business to support its $11 billion restructuring plan and start paying off more than $20 billion in new debt from the coronavirus. The new F-150 has new technologies like an integrated power generator to power tools and other equipment. Also, it's expected to contain Ford's new electric architecture or "brain" which enables Ford's advanced driver assist, called "Active Drive Assist", which is similar to Tesla's Autopilot.
All-Electric for a Fiercely Competitive Market
An all-electric version of the F-150 will roll out within the next two years, along with competing versions from GM, Tesla and hot startup Rivian. The competition in this space of automotive innovation is fiercely intense. Reports indicate that Tesla has more than 650,000 orders for Elon Musk's legendary electric truck Cybertruck, which will also start rolling out within two years.
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