Ford will debut a new three-row electric SUV next year, the car maker revealed at an investor presentation today. Details are sparse, but the company says it's aiming for 350 miles of range.
“We think numbers like 350, 300 [miles of range], plus super-fast charging is a really great combination,” says Doug Field, VP of electrification and software, as reported by The Verge.
A new battery chemistry called lithium iron phosphate (LFP) will speed up charging times. As opposed to the nickel cobalt manganese batteries (NCM) that are used in most EVs today, LFP batteries are cheaper, charge faster, and degrade less over time. On the downside, they lose range faster in cold weather and when towing (for the F-150 Lightning pickup), as we explain.
Ford plans to manufacture LFP batteries in Michigan, it announced in February, in a new joint venture with China-based CATL batteries. While LFP batteries have benefits, and some customers may prefer them, it appears to be part of Ford's cost-cutting strategy as it looks to orient its business around EVs and compete with Tesla.
"We're so far behind on waste and cost," CEO Jim Farley says, according to Reuters.
The new SUV will join the three other EVs in Ford's current electric lineup: The Mustang Mach-E crossover, F-150 Lightning pickup truck, and E-Transit commercial van. Another pickup truck will also debut in 2025, codenamed "Project T3."
While most EVs have been crossovers, sedans, or electric pickup trucks to date, competition for three-row electric SUVs is heating up. Rivian offers the pricey R1S 7-seater, but a more mass-market option from Kia, the EV9, is coming in 2024. GM-owned Cadillac also announced a three-row electric Escalade IQ today, Electrek reports.