After unveiling its fully electric F-150 Lightning, Ford’s EV pickup is establishing itself as a true competitor in the truck market. The electric truck is now making a historic debut as the US Forest Service (USFS) begins transitioning its fleet of around 17,000 gas-powered cars to zero-emission EVs.
Ford unveiled the electric version of its best-selling pickup, the F-150 Lightning, in 2021. After an overwhelmingly positive response, Ford quickly accumulated over 200,000 reservations (three years of backlog) by December 2021.
Eager buyers began receiving their F-150 Lightning pickups in May after Ford started production in April 2022.
Through November, Ford has sold 13,258 F-150 Lightning EVs, remaining the top-selling electric truck in America as the automaker ramps production.
Meanwhile, to advance the transition to a clean energy economy and reduce our reliance on fossil fuels, the US has implemented Executive Order 14057 (Catalyzing Clean Energy Industries and Jobs Through Federal Sustainability), which requires all federal light-duty vehicle purchases to be electric by 2027.
The US Forest Service is taking its first steps to transition its fleet of over 17,000 vehicles to all-electric, starting with three Ford F-150 Lightning trucks.
US Forest Service introduces Ford Lightning EVs to its fleet
Since USFS vehicles are tasked with frequent off-roading and extreme weather conditions, the agency is testing the Ford Lightning trucks to develop best practices.
According to Outside, Jason Kirchner, a spokesperson from the agency, said:
The Forest Service is embarking on an exciting study of the first-ever use of electric vehicles in a natural resources field setting. The research will determine the feasibility of electric vehicles in field-work settings, helping the agency determine the right tool for the job when it comes to electric fleet vehicles.
The EV pilot program will help the USFS create a base of knowledge regarding optimal fleet size and charging infrastructure. Outside says since the vehicles will be tested in extreme conditions (in the White Mountains), the study will “hold applicability to outdoor enthusiasts” in addition.
According to Kirchner, the Ford F-150 lightning is currently the only electric pickup available so far through the Government Services Administration. The US Forests Service is using the base model featuring:
230-mile range
Four-wheel drive
2,000 lb. payload
The agency says that since the Lightning will be recharged at night, it will not require significant charging investments. In fact, the Ford Lightning fleet model is cheaper than the entry-level gas-powered consumer F-150.
Electrek’s Take
Ford did its own testing in extreme weather conditions to develop best practices for Lightning drivers. The electric pickup is paving the way for government agencies, businesses, and consumers to go zero-emission while still enjoying the same benefits as its gas-powered peers and more.
Deploying EVs in our national forests is one of the best places to start transitioning the government fleet.
Ford’s electric pickup is not the only EV truck to be used in a forest setting. In October, Electrek reported four Rivian’s R1T models were operating in the Chyulu hills of Kenya, carrying out “vital conservation work in the most efficient and environmentally friendly way possible, including quiet anti-poaching patrols, zero tailpipe-emissions transport for Maasai firefighters, and critical on-and off-road rangers’ operations.” You can read more about the story here.
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An Exxon gas station is seen in the Brooklyn borough of New York City on Oct. 6, 2023.
Michael M. Santiago | Getty Images
Exxon Mobil beat third-quarter earnings expectations, as the oil major reached its highest liquids production level in more than four decades.
Here is what Exxon reported for the third quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Earnings per share: $1.92 adjusted, vs. $1.88 per share expected.
Revenues: $90 billion, vs. $93.94 billion expected
The oil major booked net income of $8.61 billion in the quarter, or $1.92 per share, down about 5% compared to $9.1 billion, or $2.25 per share, in the year-ago period. Exxon’s profits have declined as refining margins and natural gas prices have pulled back from from historically high levels in 2023.
The company returned $9.8 billion to shareholders in the quarter and increased its fourth-quarter dividend to $0.99 per share.
Exxon said it has reached its high production level in more than 40 years at 3.2 million barrels per day.
The oil major’s stock rose about 1% in pre-market trading. Exxon shares have gained 16.8% this year.
This is a developing story. Please check back for updates.
Chevron beat third-quarter earnings and revenue expectations, returning a record amount of cash to shareholders.
Shares were up 2.6% in the premarket following the report’s release.
The oil major’s quarterly profit, however, declined substantially compared to the year-ago period due to lower margins on refined product sales, lower prices and the absence of favorable tax times.
Chevron is aiming to streamline its portfolio, with asset sales in Canada, Congo and Alaska expected to close in the fourth quarter of 2024. The company is also target $2 billion to $3 billion in cost reductions from 2024 through the end of 2026.
Here is what Chevron reported for the third quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
Earnings per share: $2.51 adjusted, vs. $2.43 expected
Revenue: $50.67 billion, vs. $48.99 billion expected
Chevron’s net income came in at $4.49 billion, or $2.48 per share, down 31% from $6.53 billion, or $3.48 per share, in the third quarter of 2023. When adjusted for foreign currency impacts, the company reported earnings of $2.51 per share, solidly topping Wall Street’s expectations for the quarter.
Chevron booked revenues of $50.67 billion, also beating Street expectations but declining 6% from the $54.1 billion reported in the third quarter last year.
The oil major returned a record $7.7 billion to shareholders in the quarter, including $4.7 billion in share buybacks and $2.9 billion in dividends.
Chevron produced 3.36 million oil-equivalent barrels per day in the quarter, a 7% increase over the third quarter of 2023, driven by record output in the Permian Basin.
Chevron’s stock is largely flat for the year, underperforming the S&P 500 energy sector which has gained more than 6%. Shares have struggled to gain ground as uncertainty looms over the company’s pending $53 billion acquisition of Hess.
The Federal Trade Commission has cleared the deal, though it prohibited John Hess from joining Chevron’s board.
Chevron remains locked in a dispute with Exxon Mobil, which is claiming a right of first refusal over Hess Corp.’s lucrative oil assets in Guyana. If an arbitration court rules in Exxon’s favor, Chevron’s acquisition of Hess would fail to close.
ZEEKR EV cars are displayed at the 45th Bangkok International Motor Show in Bangkok, Thailand, March 25, 2024.
Chalinee Thirasupa | Reuters
Chinese electric carmaker Zeekr said Thursday its deliveries surged by 92% in October from a year ago, helping the company clock its best month at 25,049 vehicles.
The company has reportedlysaid that it expects to deliver 230,000 cars in 2024. With only two months left in the calendar year, that means Zeekr needs to deliver more than 31,000 cars in November and December each.
The Geely-backed automaker began deliveries of its new five-seat SUV Zeekr Mix on Oct. 23.
Xpeng also beat its personal best for a second straight month, delivering 23,917 vehicles in October. The deliveries included the company’s mass-market car, Mona M03, accounting for over 10,000 units.
Xpeng launched Mona M03 in late August with prices starting at $16,812.
Li Auto, whose cars mostly come with a fuel tank to extend the battery’s driving range, delivered 51,443 cars, slightly lower than its record month in September.
BYD and Aito had not yet released their October deliveries as of Friday afternoon.
Earlier in the week, Chinese smartphone and home appliance company Xiaomi said it delivered more than 20,000 electric vehicles in October.
The company only launched its first car — the SU7 — in late March.
Xiaomi aims to deliver 100,000 electric cars by the end of November. The company has delivered more than 75,000 cars as of October.