Pickup

Ford gives Biden a peek at the most successful car in American history (EV-style)

Snacks / Wednesday, May 19, 2021

Cybertruck is shaking... Yesterday, President Biden visited Ford's Dearborn, Michigan plant to check out a shiny new toy: the all-electric F-150 Lightning pickup. Tonight, Ford will publicly reveal deets about the highly-anticipated EV. Spoiler from Biden, who took it for a spin: "This sucker’s quick." But there was more to Biden’s agenda than a joy ride...

  • Clean energy future: Biden pitched his $174B EV plan, part of his $2.3T proposal to give US infrastructure a green makeover.
  • Chip-independence: Biden also advocated to move more chip production to the US, as the auto industry struggles with a shortage.

The Madonna of metal... Ford's F-150 (non-electric) has been the best-selling vehicle in the US for 39 years straight. Ford sold nearly 800K F-Series vehicles last year, because America loves a good pickup...

  • Pickup trucks accounted for half of the auto industry’s top 10 best-selling vehicles last year.
  • The three best-selling vehicles were all pickups, and made up 13% of all cars sold in the US last year. GM's Chevy Silverado was #2, and Chrysler's Ram was #3.
  • Wild stat: Ford's annual sales from F-150s are more than Tesla's total yearly sales of all its models.

This could be the first "EV ambassador"... Tesla gets a lot of hype, but it's not an "ambassador" for democratizing EVs across the US. CA accounts for 35% of Tesla's sales. Meanwhile, F-150 sales are strongest in red states, with Texas being its No. 1 market. Winning over F-150 owners means winning over America’s heartland — and electrifying it. That's exactly what Biden's trying to do. If F-150 owners like Lightning, it could be a turning point for EV adoption.

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