• Tech Tech

Ford follows in Tesla Cybertruck's footsteps with $5 billion bet: 'Reducing the cost and increasing the capabilities'

"Now is time to change the game once again."

Photo Credit: iStock

Upcoming changes to the electrical systems in Ford electric vehicles stand to produce loads of benefits for drivers, according to CNBC.

Over the summer, Ford announced a new mid-sized truck due to hit the road in 2027, and the manufacturer recently provided more details on how its platform is being built. The truck will be Ford's first full electric vehicle to host a 48-volt system. 

This is an upgrade from traditional 12-volt electrical systems as it requires less wiring and is more battery-efficient. This should help the truck achieve higher ranges without having to increase battery size and weight. These efficiencies translate into lower costs, represented by the targeted $30,000 price tag of the upcoming truck. 

Tesla pioneered 48-volt automotive electric systems in its Cybertruck and supported other manufacturers in making the transition. 

Ford's update is part of a wider Universal Electric Vehicle platform that it hopes to apply across its portfolio. The platform also includes streamlined battery production and reducing the number of parts needed to put together finished vehicles. Building this platform has involved a massive $5 billion investment

"It represents the most radical change on how we design and how we build vehicles at Ford since the Model T," said Ford CEO Jim Farley at the platform's unveiling. "Now is time to change the game once again."

In addition to the day-to-day savings of running a vehicle without having to buy gas, switching to EVs also means cutting tailpipe pollution. By reducing atmospheric pollution, it's possible to tamp down destructive weather patterns, which incur massive property costs. 

Charging an EV is already cheaper than burning gas, but those savings can be further increased by charging at home. For homeowners ready to make the leap, Qmerit offers free installation estimates for Level 2 EV chargers. 

It's possible to double down on EV charging savings by relying on homegrown electricity rather than the grid. EnergySage can help connect homeowners to vetted solar panel installers and even save up to $10,000 thanks to competitive bidding. 

What's the most you'd pay per month to put solar panels on your roof if there was no down payment?

$200 or more 💰

$100 💸

$30 💵

I'd only do it if someone else paid for it 😎

Click your choice to see results and speak your mind.

Ford was keen to keep up the excitement about its 48-volt pick-up truck and the new platform it's spearheading. 

"Gas cars have been optimized over the last 100 years, but there are still countless ideas for reducing the cost and increasing the capabilities of electric vehicles," said Alan Clarke, Ford's Universal EV Platform product lead. "The technology, engineering, creativity, and innovation are already happening. We need to scale these advancements and deliver them to driveways across America and around the world."

Get TCD's free newsletters for easy tips to save more, waste less, and make smarter choices — and earn up to $5,000 toward clean upgrades in TCD's exclusive Rewards Club.

Cool Divider