Ford's first-generation electric vehicles—such as the Mustang Mach-E and the F-150 Lightning electric pickup—provided the automaker with valuable insights into consumer demand and a deeper understanding of the manufacturing challenges involved in building EVs from the ground up.

For Ford and other non-Tesla automakers, the central challenge has been that actual demand has fallen significantly short of earlier industry expectations, while project costs remain exceptionally high. As a result, Ford recorded asset writedowns totaling $19.5 billion.

In response, Ford has recalibrated its electric vehicle strategy, but has not abandoned its electrification ambitions.

The company is now focusing on a new universal electric vehicle (UEV) platform, developed from scratch by a "skunkworks team" based in California. The first product to emerge from this platform will be a mid-size electric pickup, priced around $30,000, with the goal of achieving profitability from the outset.

"EV costs are still coming down substantially, and the only way to do that is through innovation, system-level optimization, and ultimately delivering a product that customers want," said Alan Clarke of Ford, who leads the Long Beach-based special projects team and previously served as a senior engineer at Tesla Motors.

Ford stated that the UEV platform reduces the total number of components by 20% compared to conventional vehicle programs. For example, the number of fasteners used in the vehicle has been cut by 25%.

On the production side, Ford has eliminated 40% of the assembly line workstations compared to existing manufacturing processes. Fewer components and a redesigned manufacturing flow contribute to lower production costs for the vehicle.

In terms of energy efficiency, more than half of the aerodynamics team working on the UEV platform comes from Formula 1 racing backgrounds.

Ford claims that internal testing shows the platform's aerodynamic efficiency exceeds that of any pickup currently on the market by more than 15%. Improved aerodynamics lead to reduced drag, which translates to lower energy consumption and longer range, allowing Ford to use smaller and lighter battery packs.

To reduce battery costs, Ford will adopt lithium iron phosphate (LFP) batteries—a lower-cost, cobalt-free battery chemistry. While LFP batteries have slightly lower energy density, they offer significantly lower prices and enhanced safety.

Ford noted that battery costs account for more than 40% of the total cost of an electric vehicle, and batteries represent about 25% of the vehicle’s weight.

Reducing battery expenses is the most critical lever Ford can use to make EVs more affordable and profitable.

By optimizing aerodynamics, reducing weight, and developing a new proprietary electronic architecture, Ford believes its UEV strategy will be a winning formula.

However, there are some concerns.

Ford plans to produce LFP battery cells and packs domestically at its new BlueOval battery park in Marshall, Michigan. While this move brings battery supply chain operations under U.S. control, the batteries will use licensed technology from Chinese company CATL. This has drawn attention from some lawmakers and security advocates, who have expressed concerns about Chinese involvement in the battery supply chain.

The decision to launch with a pickup truck also carries some uncertainty.

"We've learned a lot from Maverick owners—where they come from, what they drove before," Clarke said.

"Ford has a very unique brand position in trucks. Once you can offer a vehicle with this capability at this price point, there's almost no competition. It's efficient, low-cost, and its cabin is even more spacious than a Toyota RAV4." Clarke noted that the RAV4 is one of the world's best-selling vehicles.

The question remains: Do Americans want a compact electric pickup?

Although the Ford Maverick has sold well and is Ford's top-selling hybrid model, electrification presents a different set of market dynamics.

Currently, there are only a few electric vehicles priced between $30,000 and $40,000 on the market, including the new Chevrolet Bolt, Nissan Leaf, and even the rear-wheel-drive Tesla Model 3.

While these models have seen decent sales, their volumes have not been large enough to significantly shift market trends.

Thus, focusing on a pickup entails certain risks, but Ford believes its strong position in the truck market is an advantage. The company also indicated that the UEV platform can later be adapted for other vehicle types, including SUVs.

Another concern stems from the overall electric vehicle market.

Automakers initially projected that EV adoption in the U.S. would reach around 20% by now, but it has instead stalled at 6%–8%, with higher uptake limited mainly to coastal states.

Ford is betting that combining the popular pickup truck form factor with the growing appeal of the compact segment—where the Maverick competes—will drive strong sales for the $30,000 electric pickup.

It is a high-stakes gamble, but one that addresses a key pain point for American consumers: affordability.

With the average price of a new vehicle in the U.S. now exceeding $50,000, and new entrants like Slate also introducing electric pickups in the $30,000 range, it's possible that a significant unmet demand exists in this segment.

Ford is expected to release more details about the new model later this year, including its official name, range, pricing, and launch timeline.