Ford Motor (NYSE:F) held its “Delivering Ford+” capital markets day on Monday where new chief officer of EVs and digital systems, Doug Field released details surrounding the company’s newest upcoming three-row electric SUV.
The model will be sized like the Expedition, but won't replace it, as the two will be sold alongside each other and aimed at different customers.
"We could've converted an Expedition into an EV, but it wouldn't have made for a very good EV and it wouldn't have made for a very good Expedition," Field said.
According to Field, the gas-powered expedition will continue. In order to convert it to an EV, like the company has done with several of its other more popular models, the vehicle would require a battery that is too big and too heavy to be efficient and/or affordable. Instead, the battery in its new electric SUV will be one-third the size and maximize tire and propulsion efficiency to maximize range.
The new electric SUV will include fast charging (150 miles in less than 10 mins). Perhaps, most importantly, it will be affordable. However, Ford hasn’t shared pricing yet.
"It's beautiful and like anything in the segment so far," Field said. "It'll be a longer, sleeker, quieter vehicle with amazing size and features of an interior space." Farley and Field both described it as a "personal bullet train."
According to Field, the new SUV will have a range of 350 miles of combined driving per charge and be able to cover 300 miles on the highway at 70 mph using a 100-kilowatt-hour battery pack. The EV will also be able to recharge 150 miles of electricity in 10 minutes at fast charging stations.
Field reveal much more of the vehicle, but said that it would be on sale alongside Ford's next-generation full-size electric pickup in 2025.
Shares of F are down 1.54% in mid-day trading on Monday.