At the start of June 2022, the automaker announced its plans to spend $1.5 billion to develop an all-new commercial electric vehicle that will be produced at its assembly plant in Sheffield, Ohio.
Ford forges ahead on EV transition
Commercial vehicles and EVs aren’t anything new to Ford. The Ford Transit has been in the brand’s lineup since 1965, and the first modern electric model, the Ranger EV, arrived in 1998. But the company didn’t bring the two together until it introduced the
Electreksays Ford hasn’t elaborated on the new electric commercial vehicle, but the automaker did share more details about its commitment to the lineup it will join. $95 million has been set aside to increase production of the E-Transit as well.
The new commercial EV project is part of a larger $3.7 billion investment that Ford predicts will create 6,200 new positions in the U.S.
The other $2.2 billion will go toward developing a new generation of the
Ford Rangerin Wayne, Michigan, and increasing production of the F-150 Lightning in Dearborn, Michigan.
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What is Ford’s new commercial EV up against?
Ford will have to contend with its regular commercial competition as it shifts its lineup onto electric powertrains. GM, Mercedes, and Ram all have electric commercial vans available or in the works. But they aren’t the only players in the game.
Many of the EV startups coming up like Bollinger and Canoo have designs for commercial vans that they hope to offer to U.S. companies. Rivian has already begun delivering its van to Amazon.
For commercial trucks,
GreenBizsays newcomers like Arrival, Nikola, Tesla, and Workhorse will be pitting their models against established brands like BYD, Mercedes, and Volvo that have electric long haulers already available or expected within the next few years.
What will coverage look like for Ford’s new commercial EV?
It’s still too early to tell what car insurance for Ford’s upcoming commercial EV will look like. Even the E-Transit is too fresh to get any reliable data on coverage. But based on average premiums for other commercial models, it’s safe to say insurance for the vehicle won’t be cheap.
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