Ford Pivots EV Strategy to Modular Platform for Affordable Mid-Size Truck

Mar 8, 2026 (40 days ago)

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Ford is shifting EV development to a new modular platform, prioritizing cost reduction and planning an affordable mid-size electric pickup.

EV Strategy Overhaul and Platform Shift

Ford is shifting to a new modular EV platform designed to reduce complexity and lower costs across future models2
This platform change is central to the refreshed EV roadmap, which includes plans for an affordable mid-size electric pickup2
The company is scaling back broader EV development efforts, citing the current anti-electric-vehicle policy environment, while focusing more on ICE vehicles1
Despite the pullback, Ford remains committed to developing EVs, targeting a $30,000 Midsize EV pickup truck for release in 20271

Ford achieved record full-year revenue of $187.3 billion in 2025, marking the fifth consecutive year of revenue growth3
The Ford Pro segment was a major contributor, generating over $66 billion in revenue and $6.8 billion in EBIT in 20253
However, the company faces execution risk as its current debt is not well covered by operating cash flow, potentially impacting capital-intensive EV projects2

Overall U.S. sales declined by 5.5% in February, with 149,962 units sold compared to the previous year1
Sales for the F-Series pickup trucks dropped 16%, driven by the recent discontinuation of the F-150 Lightning EV Pickup Truck1
Large SUV sales showed significant strength, with the Explorer surging over 33% and the Expedition rising 27%1