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Ford executive announces that they are 'dominating' pickup truck market

2019-11-17 03:27:27 Business


Ford the worldly known car manufacturer have recently said that they expect to run over the competition in the electronic pickup truck sector. Fords chief product development officer Hau Thai-Tang said in a recent interview “We have dominated this segment, it’s the best-selling truck for 42 years. We think combining Built Ford Tough with electrification exemplifies all of those attributes customers love. We want to build on the leadership we have had,” this coming after being asked about Tesla’s upcoming entry into the market place.

Rumors are sprouting that Tesla is set to unveil their first electric pickup truck in the summer months of this year. CEO of Tesla Elon Musk, has certainly been very vocal about hyping up the companies upcoming release, with his comments saying the truck will be cutting edge, and have increased functionality than the iconic ford F-150 raptor. Experts have put an estimated price on the company’s first pickup truck, with a range between $45,000 and $60,000. While Tesla are putting the wheels in motion for their first pickup truck, upstart car manufacturer Rivian, have announced plans to bring its highly anticipated truck to market by 2021.

The good news for Ford, is that the company share a mutual alignment with Rivian, having invested $500 Million into the up starter in April, and Ford plans to use Rivian’s electric platform for an undisclosed electric vehicle as part of the partnership. Thai Tang continued in the interview, not mentioning any Companies by name and said “The pickup truck business is very competitive. Ford has dominated it. It’s a huge profit driver for us and we want to maintain that leadership and continue to build a moat around that business. We don’t take any of our competitors for granted, we have a lot of respect for all of them — we just want to focus on doing what we do well,” Thai Tang also expressed that Ford plans to have its first hybrid electric pickup truck on the market by mid-2020, and concluded by saying that a fully electric model is still a couple of years away.
Michael Reynolds – IEC International

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