Ford Motor is ramping up production of its hybrid F-150 pickup truck as it grapples with slower-than-expected sales of its all-electric vehicles. The automaker plans to double production of the V-6 hybrid model during the 2024 model year, targeting roughly 20% of its sales in the U.S. This move follows Ford’s CEO Jim Farley’s announcement in July that the company would quadruple the production of gas-electric hybrids while increasing its electric vehicle (EV) production at a slower pace than previously announced.
Ford believes that demand for its internal combustion and hybrid vehicles will remain strong for longer than expected. Kumar Galhotra, president of Ford’s traditional “Blue” business unit, even stated that the F-150 could potentially become the best-selling hybrid in North America, a title historically held by Toyota’s RAV4 or Prius.
The decision to increase hybrid production is driven by demand outpacing production capacity, particularly for the F-150 and Ford Maverick small pickup. Hybrids already make up more than 60% of Maverick sales. John Emmert, Ford truck general manager, sees hybrids as a stepping stone to full electrification for many consumers.
This strategy allows Ford to retain engine manufacturing jobs and provide a wider range of options for customers who may not be ready to transition to fully electric vehicles. Ford plans to make the hybrid engine available at the same price point as the 3.5-liter V6 EcoBoost engine.
Ford’s move to invest in hybrid technology aligns with its commitment to offer a broad spectrum of powertrains to cater to diverse customer needs, from V-8 engines for towing to all-electric vehicles for urban settings. The 2024 F-150 hybrid boasts significant power, with 430 horsepower and 570 lb.-ft. of torque, appealing to those seeking both performance and efficiency.