Fresh details of the inbound 2027 Ford Ranger EV have been leaked by none other than Ford’s own CEO, Jim Farley, describing the battery-powered all-new mid-size ute as the most exciting product he’s ever been involved in.
Revealing his admiration for the inbound Ford Ranger EV – which isn’t due to land until 2027 – Farley told investors during the car-maker’s third quarter earnings that when it finally lands the new-generation ute would “cater to customers who want more for their money – more range, more utility, [and] more usability.”
Labelling the next Ranger EV as an “incredible package,” Farley went on to say the Ranger EV should match the “cost structure of any Chinese auto manufacturer building in Mexico in the future” – that’s business speak for it will be both ultra-affordable and profitable.
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Primed to enter production in 2027, we already know much of the excitement surrounding the next Ranger EV is because it will be based on an all-new platform being readied by an engineering skunksworks team in California.
This team is working independently to develop an affordable, next-generation family of electric vehicles.
Farley name-checked the Ranger EV as being chief beneficiary of the new platform, but didn’t spare any more details on whether or not the ute would remain based on a ladder-frame needed for a one-tonne payload.
Instead, he said in all the game-changing products he’d been involved in during his time at Ford, the new mid-size truck has “got to be the most exciting”. Bold claim.
During the call to investors Farley referenced the global price war and said it was fuelled by an overcapacity of EVs caused by new nameplates flooding the market.
Announcing he was not a fan of the “race to the bottom” mentality, he said some car brands’ aggressive lease tactics posed a “huge residual risk”.
Farley then went on to explain the Mustang Mach-E‘s multiple price cuts over the past 24 months were triggered by Ford able to cut costs by as much as $US5000 ($A7600) on every car it makes, enabling it to save $US1 billion ($A1.5 b) on EVs this year alone.
Farley said Ford would continue to be “laser-focused on cost and getting leaner as a company”, hinting that more savings and high profit margins were on the way.
