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.
Ford’s new electric Explorer released in Europe (Source: Ford)
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.
Ford F-150 Lightning (Source: Ford)
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 (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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Aviation startup Electra made history last month when its EL2 became the first hybrid-electric Ultra Short Take-off and Landing (uSTOL) aircraft to successfully complete helicopter-like take-offs and landings at the Watertown International Airport.
Founded to provide affordable air travel without airports, emissions, or noise, Electra’s stated goal was to build an aircraft that could deliver on the promises of eVTOL aircraft at a significantly reduced cost compared to its more drone-like competitors. In that context, the demonstration at Watertown isn’t a publicity stunt, but part of concerted effort to validate Electra’s uSTOL performance under real-world conditions at a commercial airport — exactly the kind of place that regional operators, cargo carriers, and emergency responders actually fly in and out of.
Hitting those marks now will help Electra clear a path for FAA certification and prove that the company can deliver on the $9 billion worth of promises its made (so far).
“Electra is grateful to the team at Watertown International Airport for enabling this demonstration of the EL2’s Ultra Short capabilities in an off-runway capacity,” explains Tom Carto, director of market development at Electra. “Our Ultra Short aircraft will offer the potential to increase the use of general aviation airports and expand the capacity of larger hubs by enabling takeoffs and landings on ramps and taxiways instead of runways, feeding in regional connections without adding to runway congestion. These transformative and practical capabilities will open the door to Direct Aviation and point-to-point connections in a way that will make it easier for people to get from the where they are to where they want to go.”
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The EL2’s innovative “blown lift” design features eight electric motors on the plane’s wings, enabling take-off and landing in as little as 150 feet.
Electra says the final version of its aircraft will be able operate from airfields as small as 300 x 100 ft (90 x 30 m), or about one-tenth the length of a standard airport runway. That means that, even if these eSTOL aircraft don’t open up quite as many spaces for air travel as eVTOLs, do, they’ll still be extremely flexible – and more than capable of operating from the roofs of many existing buildings and parking structures.
NOTE: in response to some of the comments, I want to point out that the Electra is capable of sustained, electric-only powered flight and uses the genset for remote operations/extended range. I should have made that clearer. This is arguably more EREV than EV.
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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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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.
The electric Ford Bronco (Source: Ford)
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 electric Ford Bronco (Source: Ford)
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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