Ford Motor Company (NYSE:F) has introduced its new Ford Universal Vehicle Platform, which the automaker says will underpin a new generation of electric vehicles, starting with a pickup truck expected to launch in 2027 at a starting price of about $30,000.
The platform was unveiled at Ford’s “Our Next Model T Moment” event, where the company likened the initiative to its early-20th-century manufacturing revolution.
Production of the first vehicles on the platform will begin at Ford’s Louisville, Kentucky facility, supported by a $2 billion investment.
Bank of America analysts see the move as positive for Ford’s global competitiveness, noting that Ford is adopting Tesla’s and Chinese OEMs’ manufacturing approach.
To optimize efficiency, Ford will use the same platform for vehicles of different segments, they highlighted.
“Ford’s engineering team focused on reducing weight and simplifying the manufacturing process. For example, 4,000 feet of wiring have been eliminated, 25% of fasteners are gone, and the vehicle will have 20% fewer parts versus a typical truck,” the analysts wrote. “Part of this is enabled by the adoption of unicasting, which is similar to Tesla’s gigacasting.”
Ford also suggested it may move away from the traditional assembly line, which could speed up vehicle manufacturing by 15%. “This goes into a similar direction proposed by Tesla (unboxed manufacturing),” the analysts wrote.
The bank’s analysts repeated their ‘Buy’ rating on Ford and have a 12-month price objective of $14 on the automaker.
“Although EVs may have hit the brakes in the US, we think that Ford's approach looks at the future rather than the immediate term,” they wrote.
“It appears that Ford did its homework and may have a competitive product for the next wave of electrification. In addition, Ford has a global footprint, which makes it imperative to have a competitive EV lineup given that other geographies are still moving toward electrification.”
Ford shares traded up 0.9% at about $11 on Tuesday afternoon.