Ford Motor Company (NYSE:F) is doubling the production of its hybrid pickup trucks for 2024 as it attempts to continue its shift to EVs while also following the demand of US buyers, who are still apprehensive about switching to fully electric.
Plans are in place to equip 20% of the F-150 pickup trucks with gas-electric powertrains next year and the car manufacturer said it would offer these models at the same price as its turbocharged six-cylinder 'EcoBoost' truck.
"We are building some upside into the production schedule," Ford Blue’s vice president Andrew Frick said, adding that demand for the hybrid truck had jumped to account for 10% of all F-150 sales.
Selling the hybrid vehicles for around US$33,000, Ford said if the model met its sales expectations, it would be in the top three best-selling gas-electric cars in the US.
Over in the UK, demand for EVs has skyrocketed, with figures indicating demand in August was up more than 72% compared to 2022, with Ford ranking as the most popular brand behind only Volkswagen when it comes to demand for all vehicle types.
Shares in Ford closed at US$12.45 on Tuesday and are currently up 1.7% in pre-market trading.