Though it’s in the midst of investing $50 billion in EVs and erecting numerous new electric vehicle production facilities, Ford remains committed to building hybrids for the foreseeable future, as CEO Jim Farley previously stated. In fact, Kumar Galhotra, president of Ford Blue, expects sales of those types of vehicles to remain strong well into the next decade, particularly in markets where the infrastructure does not support significant EV adoption in the near future. Thus, it’s no surprise that Farley recently reiterated the fact that he expects Ford hybrid sales to grow by a large margin in the coming years while speaking on the automaker’s Q2 earnings call.
“We have the flexibility to offer customers choice of ICE, hybrids, and full electrics in the years to come,” Farley said. “Our hybrid offerings are extremely popular. F-150 is the best-selling vehicle in the U.S. for 46 years. 10 percent of all F-150s and 56 percent of all Mavericks sold in the U.S. are sold as hybrids. We are adding hybrid options across our ICE lineup, and we expect to quadruple our hybrid sales in the next five years, and we’re already number two in the market last year.”
This news coincides with the automaker’s financial results in the second quarter, which saw the company’s Ford Pro commercial and Ford Blue ICE divisions post strong results, which helped offset a large loss from the Model e EV side of the business. Meanwhile, as more and more customers flock to Ford hybrid models, the automaker has several new ones in the pipeline, too.
That list includes the recently-revealed 2024 Lincoln Nautilus – which is now available in hybrid form – as well as the Ford Edge L in China, and the award-winning 2023 Ford Escape. In the coming months, another Ford F-150 hybrid is set to join the existing PowerBoost in the lineup as well, along with a possible PHEV version of the new Ford Ranger.