Ford plans to increase production of F-150 hybrid pickup trucks

Ford Motor plans to double production of the hybrid version of its F-150 pickup truck. This decision comes as the company faces slower-than-expected sales of its all-electric vehicles. Ford aims to increase sales of the V-6 hybrid model to around 20% during the 2024 model year in the U.S., which could amount to tens of thousands more hybrid vehicles.

However, achieving this production target may be challenging due to potential strikes by the United Auto Workers that could disrupt production. Ford and other automakers must reach separate deals with the UAW for 146,000 autoworkers by Thursday to avoid work stoppages.

This move towards increased hybrid production follows Ford CEO Jim Farley’s announcement in late July that the company would quadruple its production of gas-electric hybrids. Ford aims to balance growth, profitability, and returns while anticipating durable demand for its internal combustion and hybrid portfolio.

Kumar Galhotra, president of Ford’s traditional “Blue” business unit, expects the F-150 to 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 a target of producing 2 million hybrids by 2026, could help retain engine manufacturing jobs for the foreseeable future.

Hybrid vehicles combine internal combustion engines with small batteries to improve performance and fuel economy. They differ from plug-in hybrid electric vehicles, which have larger batteries and require plugging in like all-electric vehicles to fully utilize the benefits of electrification.

Ford has not disclosed specific pricing for the 2024 F-150 hybrid model. However, it will be available for the same price as the company’s 3.5-liter V6 EcoBoost engine.

The decision to increase production was driven by high demand for hybrid models, which exceeded production capacity for the F-150 and Ford Maverick small pickup. Hybrid models account for over 60% of Maverick’s sales.

John Emmert, Ford truck general manager, stated that the F-150 hybrid serves as a transition for customers moving towards full electrification. It offers an option for those who currently find full electrification impractical.

Ford has a history of making significant changes to its engine lineup to improve fuel economy and performance. The company’s twin-turbocharged EcoBoost engines faced skepticism initially but are now widely used in F-150 vehicles.

The 2024 F-150 lineup, which includes the hybrid model, will start at $35,570. It features a new tailgate design, improved safety and convenience features, and a host of other updates.

Overall, Ford’s decision to focus on hybrid production reflects its strategy to balance growth and profitability while meeting customer needs. By offering a range of options, including hybrid and all-electric models, Ford aims to cater to different customer preferences and ensure long-term success in an evolving automotive landscape.