Jim Farley Says He Would Pick Ford's Gen-2 Electric Pickup Over Tesla's Cybertruck '7 Days Of The Week' Despite F-150 Lightning Crisis

Ford Motor Co (NYSE:F) CEO Jim Farley on Thursday company’s second generation full-size electric pickup truck while also throwing shade at rival Tesla Inc‘s (NASDAQ:TSLA) upcoming Cybertruck.

What Happened: Calling the Gen-2 truck “one of the most thrilling vehicles he saw in his career,” Farley said the vehicle has stunning performance, a super flexible cabin that “feels like a lounge” and offers an immersive digital experience.

“Take the wheels off this truck, and it’s still a mind-blowing product and a digital experience that totally is immersive and personalized,” Farley said.

“I’d take this truck seven days of the week over a Cybertruck.”

Why It Matters: Ford announced its next-gen electric truck codenamed Project T3 in March. 

The company intends to build the truck at its EV and battery manufacturing campus in West Tennessee in 2025. Farley had then called the project “a once-in-a-lifetime opportunity to revolutionize America's truck. “

However, consumers will have to wait until 2025 for the Gen-2 truck. 

The Cybertruck delivery event, meanwhile, is slated for Nov. 30 at Tesla’s Gigafactory in Texas. Once delivered, the Cybertruck will be up against Ford’s first-generation EV truck, the F-150 Lightning.

Possible Hurdles: Despite Farley’s enthusiasm, Ford’s EV division faces challenges, including a notable drop in F-150 Lightning sales by nearly 46% to 3,503 units last quarter, signaling waning demand. 

The company’s entire EV unit recorded an earnings before interest and taxes loss of $1.3 billion in the same period, contributing to a nine-month EBIT loss of $3.1 billion. 

Ford has also halted its $12 billion EV investment due to the high cost of EVs and customer reluctance to pay the premium.

Check out more of Benzinga’s Future Of Mobility coverage by following this link.

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