Ford’s new electric pickup will cost $28,350. It’s an extremely expensive bet on a very cheap truck

Key Points:

• Ford is launching the Fathom, a smaller electric pickup truck priced at $28,350, aiming to create a new US market segment for affordable electric pickups with family-sized space, set to debut in 2027.
• The Fathom project has cost Ford around $5 billion, more than double the typical $2 billion for new car development, reflecting the high stakes and pressure to achieve high sales volumes at a low price point.
• Ford draws parallels between the Fathom and the successful Maverick pickup, which started at a similar price and sold 155,000 units in 2023, suggesting the Fathom targets buyers transitioning from affordable cars rather than traditional truck customers.
• The Fathom is built on Ford’s Universal Electric Vehicle platform, designed to underpin multiple upcoming EV models, and includes features like a large screen, over 300 miles of range, and BlueCruise hands-free driving technology.
• Despite challenges such as the removal of the $7,500 federal EV tax credit and rising average electric vehicle prices, Ford remains committed to affordable EVs, viewing the Fathom as a strategic step toward its electric future.