Ford Motor Company has been making headlines lately for its shift towards hybrid vehicles, despite the industry’s major push for pure electric vehicles. After losing billions of dollars in the electric vehicle market, Ford has decided to embrace hybrid vehicles and is reaping the benefits.
During Q2 earnings call (Ford Q2 Earnings Report Reveals Strong EV Sales But Heavy Losses), CEO Jim Farley revealed the Detroit automaker will expand its hybrid vehicle lineup after the hybrid F-150 pickup and Maverick truck hauled in surprising sales.
“We’ve been blown away by the crazy popular reception of our hybrid tech in the F-150,” Farley explained. Over 10% of F-150 buyers have chosen the hybrid model, with the $1,500 hybrid option selected by more than half of Maverick truck customers.
So why is Ford riding the hybrid highway when most automakers are focused on a battery-powered future? According to Farley, “Customers dig how the hybrid system boosts efficiency for tough jobs and brings new perks from the battery.”
One perk is Ford’s “Pro Power Onboard” feature, which lets truck owners use battery juice to power tools and appliances on job sites, no generator required. As Farley said, “Customers are pumped about using the battery for more than just moving the wheels.”
Ford heavily touted the electric F-150 Lightning’s ability to power a house during outages. But with slower-than-expected EV adoption, perhaps customers want Lightning-like power without full electrification. The hybrid trucks offer the best of both worlds.
During the earnings call, execs admitted the EV transition is taking longer than anticipated. So amidst market headwinds, Ford is meeting customer demand where it exists today – with gas-electric hybrid models.
“We’re just listening to the market,” Farley said. Until EVs fully take over, Ford’s hybrid trucks provide eco-friendly power and functionality customers crave. Rather than force an EV future, Ford is taking the hybrid highway at the speed customers want to drive.