Ford boss outlines five-year product plan

FORD MOTOR COMPANY CEO Jim Farley has outlined the company’s product portfolio for the next five years, which balances its commitment to electric vehicles while satisfying the demand for more iconic internal-combustion engine models.

 

As reported by Automotive News, production of Ford's battery-electric Mustang Mach-E, F-150 Lightning and E-Transit will ramp up to meet higher than expected demand, with new-generation models built on dedicated EV platforms to be introduced by 2025.

 

Ramping up production of the F-150 Lightning is a priority. With a waiting list for the electric truck sitting around the 200,000 mark, it’s hoped the Dearborn, Michigan Assembly Plant will be able to produce more than 150,000 per year by mid-2023.

 

In August, Ford hiked Lightning pricing by 17 per cent due to increased material costs and “other factors” in conjunction with re-opening its order books.

 

Mach-E production will also increase, with its Cuautitlan Assembly Plant in Mexico concentrating solely on that model to produce 200,000 units annually from 2023.

 

The current model of the E-Transit, which has exceeded 3500 global sales so far in 2022, will continue production until 2026 when it will make way for a new model on one of the new EV platforms at its Ohio assembly plant, along with another electric commercial vehicle that’s yet to be announced.

 

All F-150 Lightning, E-Transit and Mustang Mach-E variants will have the new and more efficient lithium iron phosphate battery cell chemistry by 2024.

 

Meanwhile, more nameplates will be electrified, including another pick-up truck, and the Explorer large SUV, to be built in Oakville, Ontario from late 2024.

 

However, other nameplates face the chop, including the Escape medium SUV and Edge five-seat large SUV (which was known as the Endura in Australia).

 

The medium and large SUV segments will be filled by new EV models, with Ford yet to reveal their names.

 

It’s better news for the popular high-margin ICE models, such as Mustang, Bronco, Ranger and F-Series pick-ups, which will continue into a new generation.

 

As reported by GoAuto News earlier, the seventh-generation S650 Mustang, likely to be the last of the petrol Pony Cars, will be unveiled at this month’s Detroit Auto Show.

 

While the 2024 Mustang will feature a range of new exterior design features, it is expected to be similar to the current S550 platform, with its V8 and turbocharged four-cylinder EcoBoost engines likely to carry over. Plans for twin-turbo V6 and hybrid Mustang versions have been scrapped.

 

Also scrapped will be 3000 jobs across Ford’s global operations, including 120 in Australia.

 

On announcing the job cuts in August, Farley said they were part of a larger restructuring process that mains reorganise and simplify functions within the firm’s global structure.

 

“Building this future requires changing and reshaping virtually all aspects of the way we have operated for more than a century,” he said.

 

“It requires focus, clarity and speed. And, as we have discussed in recent months, it means redeploying resources and addressing our cost structure, which is uncompetitive versus traditional and new competitors.”