Ford has unveiled lofty measures to slash the cost of its new electric cars, with continued goals to offer a new EV at less than £23,000.
The Universal EV Platform has been developed by Ford as part of its mission to create an affordable family of electric cars following a huge $5billion (£3.7billion) investment into its US facilities.
One of the first parts of this endeavour is to create a midsize four-door electric pick-up truck with a targeted starting price of around $30,000 (£22,163) next year.
Despite facing huge challenges with its electric vehicle rollout, Ford remains confident that it can deliver such a vehicle for consumers.
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In a new update, Ford said its Universal Electric Vehicle programme was "one of the audacious and important projects" in its history.
Ford acknowledged that the battery can contribute up to 40 per cent towards the overall price of an EV, which is being addressed by the Blue Oval brand.
It stated that drivers have demanded bigger batteries in electric cars to provide better range, although this contributes to greater costs.
Alan Clarke, Universal EV Platform and Product Leader, said the Ford team was assigning numerical metrics to key factors, including vehicle mass and aerodynamic drag.
Ford remains committed to producing a $30,000 pick-up truck by 2027
|FORD
These factors contribute directly to the efficiency of the vehicle, which impacts the overall battery range and cost of the battery.
He continued, saying: "In a low-cost vehicle, it can feel counterintuitive to increase the cost of a part just to decrease its weight.
"But if we can give that weight reduction a value in terms of the battery cost, then we can decide if making the part lighter and more expensive actually saves us money than adding an extra battery."
Ford said the aim was to reduce the overall energy consumption of the vehicle, with this first being seen in the upcoming full-size pick-up truck.
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Ford demonstrated the aerodynamic benefits of its new Universal Electric Vehicle platform
|FORD
Saleem Merkt, who works in the aerodynamics department at Ford, claimed that a one millimetre change in the height of the roof can lead to savings of $1.30 (96p) for the battery cost.
"The upcoming affordable pick-up truck will have an impressive aerodynamic efficiency, which will be 15 per cent better than any other pick-up truck on the market," he added.
This could add up to 4.5 miles to the total battery range, alongside further savings to lower the overall cost for motorists.
Ford previously promised that the new affordable pick-up truck would be as fast as a Ford Mustang EcoBoost, while having more passenger space than a Toyota RAV4.
Alan Clarke, Universal EV Platform and Product Leader, confirmed that Ford would continue to cut the overall cost of its electric vehicles
|FORD
Doug Field, Ford's chief electric vehicle, digital and design officer, stated that manufacturers are able to create an electric vehicle that costs a similar amount as an internal combustion engine vehicle.
Similarly, Jim Farley, CEO of Ford, emphasised that the Blue Oval would need to compete with Chinese brands through "innovation".
Manufacturers from China have become far more popular in recent years by offering drivers with affordable and technologically advanced vehicles.
Speaking last year, Mr Farley added: "You're not going to beat them - you've got to get close on cost - but then you have to apply the innovation. That's what we’ve done. That's our bet."