Ford is developing an electric pickup truck with a $30,000 target price. Former Tesla engineer Alan Clarke leads a dedicated "skunkworks" team for the project.
The team focuses on efficiency, aerodynamics, and weight reduction for a new low-cost platform. CEO Jim Farley aims to compete with Tesla and Chinese manufacturers on price.
The project targets the development of a profitable mass-market electric vehicle. Ford stock showed minimal movement in after-hours trading.