In recent months, demand for all-electric vehicles has fallen behind expected levels of growth even as sales continue to rise, largely due to concerns over not only range and charging infrastructure, but also, a big price gap compared to traditional ICE models. Thus, a new, low-cost Ford EV platform secretly entered the developmental phase a couple of years ago, and is set to underpin a handful of future models starting with a crossover scheduled to launch in late 2026. However, when it does arrive, that Ford EV might be more expensive than previously thought.
In a recent interview with NBC News, Ford CEO Jim Farley said that the automaker is “shooting for a $30,000” Ford EV that will also be profitable, which is notable because previously, that same model was allegedly targeting a $25,000 price tag. Regardless, Farley did add that this future Ford EV crossover is still on track to launch in late 2026, at least.
The new low-cost Ford EV crossover was inspired by a trip that Farley took to China a few years ago, and is directly aimed at the cheap EVs coming from rival automakers based in that country already. At the same time, Ford also hopes that the future model will prove to be a compelling value play that convinces traditional ICE buyers to go electric in a time when that task is proving more difficult than originally expected.
In addition to a crossover, this new low-cost platform is also slated to underpin a potential dedicated ride-sharing vehicle, as well as a compact pickup. It’s reportedly inspired by the Ford Escape and may also be built alongside it at the Louisville Assembly plant, to boot. Additionally, while nothing has been decided as of yet, the low-cost platform may also be employed by Ford Europe to underpin future all-electric models in that region, too, while prototypes are slated to hit the road for testing purposes later this year.
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Comments
Prototypes to hit the road for testing late this year. Good. Photos will provide a generalized concept of size and form
At this rate by the time it arrives it’ll be $40, 000. 25 was the sweet spot. Ford already lost sales. Oh, well.
Probably low to mid 30s. After tax incentives.
Does not include battery.
Farley needs to go. He’s taking Ford down the tubes with Biden’s electric mandate.
Won’t matter after November this year.
I know ,let’s build a car that’s starts at £20000 to £30000, does 50 mpg best selling new and used car ,I have driven them 43 years and won’t have anything else ,and guess what , let’s call it Fiesta !!!!!!!
If Ford is losing $65k/EV right now, how are they going to sell a $30k EV and be profitable in 2 years? I’d like to see Farley pull that rabbit out of his hat.
I hope so!
Doubling down on a failure isn’t going to make it successful. BEVs are not ready for prime time, and Ford (as well as all automakers) needs to give the finger to all these governments trying to jam them down people’s throats and get back to making vehicles people want and can afford.
Change is always difficult, because the human animal resists it at all turns. So, meeting the consumer where they are but also attempting to plan products a minimum of five years out especially with all the variables he discussed is challenging to say the least. Sure, Ford has made errors in reading the market, but they are not alone. Think about his comment about his grandfather working the shop floor then and now. Also, think about how far transportation has come on all fronts from what it was 20 years ago or further back. I’m sure the naysayers would love to go back to the medical treatments of the past as well.