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 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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The cooling towers of the Three Mile Island nuclear power plant in Middletown, Pennsylvania, Oct. 30, 2024.
Danielle DeVries | CNBC
Power companies that are most exposed to the tech sector’s data center boom plunged early Monday, as the debut of China’s DeepSeek open source AI laboratory led investors to question how much energy artificial intelligence applications will actually consume.
Constellation, Vistra and GE Vernova have led the S&P 500 this year as investors speculated that AI data centers will boost demand for enormous amounts of electricity.
But DeepSeek has developed a model that it claims is cheaper and more efficient than U.S competitors, raising doubts about the vast sums of money the tech sector is pouring in to data centers.
The tech companies have anticipated needing so much electricity to supply data centers that they have increasingly looked to nuclear power as a source of reliable, carbon-free energy.
Constellation, for example, has signed a power agreement with Microsoft to restart the Three Mile Island nuclear plant outside Harrisburg, Pennsylvania. Talen is powering an Amazon data center with electricity from the nearby Susquehanna nuclear plant.
Vistra has not inked a data center deal yet, though investors see promise in its nuclear and natural gas assets. GE Vernova has soared this year as the market believes its gas and electric grid businesses will benefit from AI demand.
This is a developing story. Please check back for updates.
Executives from TravelCenters America (TA) and BP were joined by local elected officials at a ribbon cutting for the two companies’ first DC fast charging hub on I-95 in Jacksonville, Florida – the first of several such EV charging stations to come online.
Frequent road-trippers are no doubt familiar with TA’s red, white, and blue logo and probably think of the sites as safe, convenient stops in otherwise unfamiliar surroundings. The company hopes those positive associations will carry over as its customers continue to switch from gas to electric at a record pace in 2025 and beyond.
“Today marks a significant milestone in our journey to bring new forms of energy to our customers as we support their changing mobility needs, while leveraging the best of bp and TA,” explains Debi Boffa, CEO of TravelCenters of America. Boffa, however, was quick to – but TA is quick to point out that TA isn’ no’t leaving its ICE customers behind. “While this is significant, to our loyal customers and guests, rest assured TA will continue to provide the same safe and reliable fueling options it has offered for over 50 years, regardless of the type of fuel.”
The charging hub along the I-95 offers 12 DC fast charging ports offering up to 400kW of power for lickety-quick charging. While they’re at the TA, EV drivers can visit restrooms, shop at TA’s convenience store, or eat at fast food chains like Popeyes and Subway. Other TA centers offer wifi and pet-friendly amenities as well – making them ideal partners for BP as the two companies builds out their charging networks.
“As we expand our EV charging network in the US, I am thrilled to unveil our first of many hubs at TA locations,” offers Sujay Sharma, CEO of BP Pulse Americas. “These sites are strategically located across key highway corridors that provide our customers with en route charging when and where they need it most, while offering convenient amenities, like restaurants and restrooms.”
The new e2500-THL and TS electric Ultra Buggies from Toro offer construction and demo crews a carrying capacity of 2500 lbs. (on the TS model), six-and-a-half foot dump height (on the THL), nearly 13 cubic ft. of capacity, and hours of quiet, fume-free operation.
For their open-mindedness, those crews will be rewarded with machines powered by 7 kWh’s worth of Toro HyperCell lithium-ion battery. That’s good enough for up to eight hours of continuous operation, according to Toro – enough for two typical working shifts.
And, thanks to the Toro Ultra Buggies’ narrow, 31.5″ width, they can easily navigate man doors on inside jobs, as well, making them ideal for indoor demolition and construction jobs. A zero-turn radius and auto-return dump mechanism that ensures the tub automatically returns to the proper resting position make things easy for the operator, too.
Toro says that each of its small (for Toro) e2500 Ultra Buggy units can replace as many as five wheelbarrows on a given job site. Pricing is expected to start at about $32,000.