by Ford’s Electric Future Takes on a Different Shape
Just a few years ago, Ford, like most of its competitors, was moving full steam ahead into an electric future. The goal was clear: catch up with Tesla and help turn the US into a thriving hub of innovation for electric vehicles. However, today the picture of the future looks quite different.
A significant part of Ford’s early EV efforts was tied to the F-150 Lightning pickup. This model, which some promoted as the cornerstone of the brand’s future and which was initially the most affordable electric pickup in the States, was met with great hopes. But just three years after sales began, Ford halted its production. CEO Jim Farley recently confirmed that part of the reason boils down to simple economics: buyers are not lining up for electric vehicles priced over $50,000.
Is the Problem Expensive Electric Cars?
During an interview with CNBC, Farley commented on Ford’s statement that the company would take on a $19.5 billion obligation in 2026, related to the decision to step back from prioritizing EVs and refocus on models with internal combustion engines. In his opinion, the company’s electric lineup simply did not match what buyers actually wanted.
“More importantly, very expensive electric cars at $50,000, $60,000, $70,000, and $80,000 simply were not selling,” said Farley.
Back in 2021, when the F-150 Lightning was first introduced, the base price was a relatively acceptable $39,974. But that didn’t last long, as the company conducted a series of price increases. By 2025, the base model had risen to $54,780, an increase of nearly 37 percent, making it unattainable for many of the pickup buyers it was initially aimed at.
Hybrids in the Spotlight
While Ford is now shifting focus away from electric cars, it doesn’t mean it’s done with electric motors and batteries. During the same interview, Farley stated that the company aims to “follow the customers to where the market is, not to where people thought it was going, but to where it is today.”
Thus, Ford will begin prioritizing hybrid and extended-range models. A “whole lineup” of new hybrid models is expected, including a hybrid Bronco. Farley also noted that Ford has quietly taken third place in hybrid sales in the US and dominates the hybrid truck market with approximately an 80% market share.
Farley added that the company expects its electric Model E unit to reach profitability in 2029, three years later than initially expected. By 2030, he still expects half of Ford’s global sales to be electric vehicles. But most of those, he clarified, will be hybrids and extended-range models, not pure battery EVs.
This strategic pivot reflects a broader trend in the automotive industry, where consumer demand is proving more cautious than expected, especially regarding expensive fully electric models. Ford’s success in the hybrid market, particularly among pickups, points to a possible transitional path where technology serves as a bridge, combining the familiar benefits of internal combustion engines with the efficiency of electric drive. The future of electrification appears to be more gradual and diverse than the most optimistic forecasts predicted, and the adaptability of companies like Ford may determine the long-term winners in this evolutionary race.
