Ford details EV plans, new electric truck and three-row SUV coming at Capital Markets Day

Published

2 years ago

May 22, 2023

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On Monday’s Capital Markets Day, Ford detailed its second-generation electric vehicles, including a new full-size pickup and three-row SUV EVs. The new models will help the automaker deliver on its EV targets going forward.

Ford previews its next-generation electric vehicles

Ford is sticking with its strategy of introducing EVs in segments the brand is known for. For its first-generation electric vehicles, Ford converted customer favorites to EVs, including the Mustang Mach-E and Ford F-150 Lightning, two segments Ford has done traditionally well with.

With a rich history of building trucks, Ford says it will introduce another full-size electric pickup, codenamed Project T3.

The American automaker revealed the T3 project in March, with CEO Jim Farley referring to it as “like the Millennium Falcon – with a back porch attached.”

According to Ford, the electric truck will focus on efficiency with minimal trims and a streamlined manufacturing process designed to reduce costs across the board.

Ford says the new electric truck, like the Lightning, will be built for work and the new digital era with continuous software updates via OTA.

Its new three-row electric SUV, Ford says, is designed for road trips with a spacious interior and up to 350 miles of range (300 miles cruising at 75 mph). Ford ruled out the idea of an electric Expedition, saying it would be too big and would require too many battery resources.

Instead, the battery in its new electric SUV will be one-third the size and maximize tire and propulsion efficiency to maximize range.

The new electric SUV will include fast charging (150 miles in less than 10 mins). Perhaps, most importantly, it will be affordable. However, Ford hasn’t shared pricing yet.

How Ford plans to hit its EV targets

To cut costs, Ford is introducing a new platform designed to streamline manufacturing across all segments. Ford’s next-gen platform is due out in 2025 and will offer advanced tech and software, including potential level 3 autonomy.

Ford aims to build 2 million EVs annually by 2026 by vertically integrating its supply chain, including through its new BlueOval City EV mega campus. So far, Ford claims to have secured 90% of the nickel needed and revealed partnerships with three major lithium makers, including Albermarle, SQM, and Nemaska Lithium.

Albermarle will supply over 100,000 metric tons of battery-grade lithium for roughly 3 million future Ford electric cars. The agreement is over a five-year period and starts in 2026.

Nemaska, on the other hand, will supply up to 13,000 tons of lithium hydroxide per year over an 11-year period.

When BlueOval SK begins operation in 2026, Ford believes it will offer the least expensive EV batteries in the US.

Ford-mustang-mach-e — Ford Mustang Mach-E (Source: Ford)

Ford is also introducing a new distribution model featuring an improved buyer and ownership experience. Customers will be able to skip negotiating prices at dealerships with flexible purchase options, including replenishment centers designed to accelerate deliveries (vehicles in as few as 10 days).

To achieve its 8% EBIT margin by the end of 2026, Ford will continue driving down costs and improving efficiency in its first-gen products. Ford says its new second-gen electric vehicles will be EBIT-positive in their first year.

Lastly, Ford believes its BlueCruise will account for about 20% of the Ford Model e’s EBIT margin by 2026. BlueCruise offers a less cyclical, higher margin revenue source that Ford plans to continue improving and scaling.

Because of this, Ford believes it is less exposed to the EV transition in the industry than other automakers.

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Environment

Trump admin OKs $1B loan for Three Mile Island nuclear reboot

Published

4 hours ago

November 18, 2025

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Three Mile Island loan — By Constellation Energy – CC BY-SA 4.0

The US Department of Energy’s Loan Programs Office (LPO) closed a $1 billion loan to restart Three Mile Island Unit 1, a nuclear reactor at Three Mile Island in Londonderry Township, Pennsylvania.

The money is being loaned to Constellation Energy Generation, which is renaming the 835 megawatt (MW) Three Mile Island Unit 1 the Crane Clean Energy Center. Constellation said in September 2024 that it would restart the reactor under a power purchase agreement with Microsoft, which needs more clean power to feed its growing data-center demand.

The project is estimated to cost around $1.6 billion, and the DOE says the project will create around 600 jobs. The reactor is expected to start generating power again in 2027.

Three Mile Island Unit 1 (in the foreground in the photo above) went offline in 2019 because it could no longer compete with cheaper natural gas, but it wasn’t decommissioned. It’s capable of powering the equivalent of approximately 800,000 homes. It’s on the same site as the Unit 2 reactor (in the background in the photo above) that went into partial nuclear meltdown in 1979, and is known as the worst commercial nuclear accident in US history.

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When asked about the loan’s timing, Greg Beard, senior adviser to the Loan Programs Office, told reporters on a call that it would “lower the cost of capital and make power cheaper for those PJM [Pennsylvania-New Jersey-Maryland] ratepayers.” Data centers are driving up electricity costs for consumers.

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Environment

Ford opens orders for the electric Bronco in China, starting at under $33,000

Published

5 hours ago

November 18, 2025

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Ford opens orders for the electric Bronco in China, starting at under ,000

An affordable Bronco EV? Not for those in the US. Ford opened orders for the electric Bronco in China, starting at under $33,000.

Ford Bronco electric pre-orders open at under $33,000

Ford announced the All-Wheel Drive electric SUV is officially open for pre-sale on Tuesday, starting at RMB 229,800 ($32,300).

The electric Bronco is available in pure electric (EV) and extended range electric vehicle (EREV) options. It’s offered in three variants, priced from RMB 229,800 ($32,300) to RMB 272,800 ($38,400).

All models are All Wheel Drive, while the pure electric version costs an extra 10,000 yuan ($1,400). Ford is offering pre-sale buyers some pretty sweet benefits, including a camping experience package (with an added roof tent), a Mountain Kitchen Multi-Function Tailgate gift, an overnight stay package (for your vehicle), and more.

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The electric Ford Bronco is about the same size as the standard 4-door version sold in the US at 5,025 mm long, 1,960 mm wide, and 1,815 mm tall.

Although it may look the same, the EV version draws power from a 105.4 kWh LFP battery pack from BYD’s FinFreams, providing up to 650 km (404 miles) CLTC driving range.

It’s equipped with two electric motors, one in the front and the other in the rear, producing a combined 445 horsepower (332 kW).

The EREV version combines a 43.7 kWh battery with a 1.5T engine, delivering a pure-electric range of 220 km (137 miles) and a combined CLTC driving range of 1,220 km (758 miles).

Some of the higher trims feature Ford’s Fuyu ADAS system, developed exclusively for buyers in China with a roof-mounted LiDAR and over 30 sensors and cameras. It even features a cool “off-road logbook” that shows drivers over 20 popular routes across China.

The interior is custom-tailored for Chinese buyers with a 15.6″ central infotainment and a smaller driver display screen. It also offers a massive 70″ AR head-up display (HUD).

Unlike the Ford vehicles we’re accustomed to seeing, the electric Bronco includes a 7.5L refrigerator in the center console.

The AWD electric SUV is coming at a critical time as Ford aims to revamp its business in China. Ford is working with local partners on new technologies, designs, and powertrain ideas for global markets.

Ford’s sales in China are down by over 14% through October this year, but new electrified vehicles, including the Bronco, are expected to help turn things around. Ford’s lineup in China mainly consists of gas-powered vehicles, which have quickly fallen out of favor with buyers shifting to more advanced, more efficient, and often lower-priced domestic EVs.

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Environment

Trump administration backs Three Mile Island nuclear restart with $1 billion loan to Constellation

Published

6 hours ago

November 18, 2025

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The cooling towers of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.

Danielle DeVries | CNBC

The Trump administration will provide Constellation Energy with a $1 billion loan to restart the Crane Clean Energy Center nuclear plant in Pennsylvania, Department of Energy officials said Tuesday.

Previously known as Three Mile Island Unit 1, the plant is expected to start generating power again in 2027. Constellation unveiled plans to rename and restart the reactor in Sept. 2024 through a power purchase agreement with Microsoft to support the tech company’s data center demand in the region.

Three Mile Island Unit 1 ceased operations in 2019, one of a dozen reactors that closed in recent years as nuclear struggled to compete against cheap natural gas. It sits on the same site as Three Mile Island Unit 2, the reactor that partially melted down in 1979 in the worst nuclear accident in U.S. history.

The loan would cover the majority to the project’s estimated cost of $1.6 billion. The first advance to Constellation is expected in the first quarter of 2026, said Greg Beard, senior advisor to the Energy Department’s Loan Programs Office, in a call with reporters. The loan comes with a guarantee from Constellation that it will protect taxpayer money, Beard said.

Constellation’s stock was up more than 2% in after hours trading on Tuesday.

The control panel in the main control room of the Three Mile Island Nuclear power plant is seen on Oct. 30, 2024 in Middletown, Pennsylvania, U.S.

Danielle DeVries | CNBC

CEO Joe Dominguez hinted at federal financial support previously, telling investors in Sept. 2024 that Constellation would “take a look as we finance the project at loan guarantees and other things that will be available.” Constellation is the largest operator of nuclear plants in the U.S.

When asked why Constellation was receiving the loan now, Beard said Tuesday that Constellation could have completed the project without help from the Energy Department. But the loan will help make electricity cheaper for consumers on the grid operated by PJM Interconnection, which serves more than 65 million people across 13 states, Beard said.

“What’s important for the administration is to show support for affordable, reliable, secure energy in the U.S.,” Beard told reporters. “This loan to Constellation will lower the cost of capital and make power cheaper for those PJM ratepayers.”

Electricity prices

Energy Secretary Chris Wright said last week that his department’s loan office would use most of its money to support the nuclear industry. President Donald Trump signed four executive orders in May that aim to significantly expand new nuclear capacity.

Consumers in many states in the PJM region are facing significant electricity price increases as the rapid increase in demand from artificial intelligence data centers outstrips available supply.

“We want to bring as much net addition of dispatchable, reliable electricity onto the grid to stop these price rises in electricity,” Wright told reporters on Tuesday.

The turbine deck of the Three Mile Island Nuclear power plant is seen on Oct. 30, 2024 in Middletown, Pennsylvania, U.S.

Danielle DeVries | CNBC

The Crane Clean Energy Center is one of three shuttered nuclear plants in the U.S. that are aiming to start generating power again this decade subject to approval by the Nuclear Regulatory Commission. Crane had the capacity to power more than 800,000 homes when it closed in 2019, according to Constellation.

The Energy Department is supporting the restart of the Palisades nuclear plant in Michigan with a $1.5 billion loan to Holtec International. NextEra Energy announced in October plans to restart the Duane Arnold nuclear plant in Iowa through an agreement Alphabet‘s Google Unit.

When asked whether NextEra will receive a loan for Duane Arnold, Beard told CNBC that Trump’s executive orders direct the Energy Department to “prioritize the restart of nuclear reactors.”