Ford (F) Stock Dips as Company Unveils Electric Pickup Plans

TLDR

• Ford shares dropped slightly after revealing its upcoming mid-size electric pickup built on the Universal EV platform, expected to launch in 2027 with lower ownership costs than Tesla’s Model Y.
• The new truck uses lithium iron phosphate (LFP) batteries and aims to compete with China through “American innovation,” according to CEO Jim Farley.
• Ford, Ram, and Scout Motors are pivoting to extended-range electric vehicles (EREVs) that combine 150-mile electric range with gas generators for extended driving.
• Over 80% of Scout Motors reservations are for EREV versions rather than full EVs, reflecting truck buyers’ concerns about towing and payload impacts on battery range.
• Ram’s EREV arrives late 2026 starting below $60,000, while Scout begins production in 2027 at its South Carolina factory.

Ford stock slipped 0.72% Thursday after the company provided new details about its first mid-size electric pickup truck built on its Universal EV platform. The yet-unnamed vehicle represents Ford’s latest attempt to crack the electric truck market.

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The new pickup will offer lower total cost of ownership than Tesla’s Model Y. It will also provide more interior space than Toyota’s RAV4.

Production starts this year ahead of a 2027 release. The truck uses lithium iron phosphate batteries to keep costs down.

The truck is part of a broader industry shift away from pure electric pickups. Ford discontinued its F-150 Lightning despite it being the best-selling electric pickup in the U.S. last year with 90,000 units sold.

That figure represented just 3% of total F-150 sales, which approached one million units. The limited market for full-electric trucks has pushed Ford and competitors toward a different solution.

The EREV Alternative Takes Center Stage

Ford is now joining Ram and Scout Motors in developing extended-range electric vehicles. These EREVs use a gas engine solely to charge the battery rather than drive the wheels directly.

The setup allows for roughly 150 miles of pure electric driving before the gas generator activates. This addresses range concerns when towing or hauling heavy loads.

Loading a truck bed can reduce battery range by 25%. Towing can cut it by half.

Scout Motors reports that over 80% of customer reservations are for EREV versions rather than full EVs. The company will begin production in 2027 at its South Carolina factory with prices starting below $60,000.

Ram’s EREV hits the market first in late 2026. Ford hasn’t announced timing for its EREV model yet.

Market Reception and Competitive Landscape

A McKinsey survey from early 2025 found 18% of U.S. car buyers would consider an EREV. That’s the highest interest level among Germany, the UK, and the U.S.

The appeal comes from faster charging times and longer total range without complete dependence on charging infrastructure. EREVs cost less upfront than full EVs with comparable range due to smaller batteries.

EREV models worldwide jumped 40% in one year, driven almost entirely by growth in China. The technology has proven especially popular where range and charging times create greater concerns.

General Motors has no EREV in the U.S. currently, though CEO Mary Barra said the company is considering plug-in hybrid options. Rivian CEO RJ Scaringe stated on the company’s Q3 earnings call that it has no EREV plans.

Meanwhile, Ford’s headquarters cafeteria has become an unexpected talking point for talent retention. The food hall features nine stations and serves 30-32 rotisserie chickens daily, which typically sell out.

Wall Street analysts maintain a Hold rating on Ford stock with 2 Buys, 11 Holds, and 1 Sell. The average price target of $13.87 suggests 1.24% upside potential after the stock’s 49.24% gain over the past year.

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