Kia's 2030 EV sales target now stands at 1 million units annually, a reduction of roughly 20% from the previous target of approximately 1.26 million units. This adjustment reflects the impact of eliminated US EV subsidies and a slowdown in battery-electric sales.
While Ford ( NYSE: F) was eating through billions of dollars in an attempt to gain a large market share in the US EV market and its EU and China units stagnated, its best-selling, and likely most profitable vehicle, the F-150, continued its gargantuan unit sales. The F-150 is part of the F-Series of full-size pickup trucks. Last year, unit sales of these in the US reached 828,832, up 8.3%.
Ford is preparing to launch its Universal Electric Vehicle platform, its next-gen EV architecture. The first model on the platform will be a mid-size electric truck with a starting price around $30,000. It'll have a 400-volt battery, a 48-volt power system, a true software-defined architecture and an LFP battery. Ford needs an electric-vehicle reset. Its attempt to own the EV truck market, the original Ford F-150 Lighting, ended in that model's cancellation amid concerns over its high price, poor towing performance and chronic unprofitability.
On Thursday, CEO Jim Farley gave a brief update on the project's progress on social media. That included a bit more on how exactly the company plans to radically simplify manufacturing and reduce the number of parts needed to build a car. More On Ford's 'Skunkworks' EV Project "Ford will use large unicastings for the first time on the Universal EV Platform," he said. "The radically simplified aluminum unicastings condense over 146 parts into two, and enable the assembly tree method at the Louisville Assembly Plant." Ford has mentioned the use of large castings before. But the specifics of condensing well over 100 parts into two seem to be new.