Doug Field sharing some new details on Ford EVs.
Says a 3-row family SUV is coming in 2025 with a 350-mile range. He likened it to an Expedition. pic.twitter.com/FixnHKIj2Y
— Michael Martinez (@MikeMartinez_AN) May 22, 2023
Ford is determined to get to the same level as Tesla. Aside from its willingness to lose $3 billion this year just to boost its electric vehicle business, the company shared some news about its upcoming next-gen EV architecture for its next EV during its capital markets day this Monday.
According to the company, the creation would first benefit a sport utility vehicle capable of 350 miles of range. It is inspired by Ford’s Expedition SUV and will boast three rows. The main highlight of the vehicle lies in its battery, which will use Ford’s future EV architecture set to release in 2025.
In the announcement, the company shared that the tech will employ lithium iron phosphate chemistry, which should allow future Ford EV vehicles to have more efficient batteries. Specifically, the company promised this would result in a fast charging process and better durability. Even more, the company stressed that this should help it deliver more affordable EV lineups.
Doug Field, chief advanced product development and technology officer, shared how promising the creation is by comparing the old chemistry tech to the upcoming one. According to Field, while the old chemistry only allows a 150kWh battery to produce 300 miles of range, the new one should deliver 350 miles of range from a 100kWh battery. The vehicle expected to use this new architecture will join Ford’s EV lineup, which includes the Mustang Mach-E and F-150 Lightning.
Ford hopes to boost its position in the EV industry in the future, especially now that it is next to Tesla as the biggest EV seller in the US market. To make it possible, the company increased the Mustang Mach-E production and even promised to make some price slashes for the vehicle to help its price better compete with Tesla offerings. This should cost Ford billions to lose, but the company is confident about this path, especially after it sold 10,866 EVs in Q1 of 2023, which translates to 41% growth year-over-year.
