Ford F-Series: What Does An All Electric Pickup Truck Mean For The Company?

In a move that is designed to better position itself in the electric and hybrid vehicle markets, Ford (F) has confirmed its commitment to electrify its F-Series pickup trucks.

Jim Farley, Ford president of global markets, made the announcement at the Deutsche Bank Global Automotive Conference in Detroit, Michigan. “We’re going to be electrifying the F-Series — battery electric and hybrid,” he said at the event.

Farley said the move toward electric would “futureproof” the F-Series in the global markets.

The all-electric pickup trucks would mean the elimination of an internal combustion engine and would help Ford better compete in environmentally-motivated markets like California, where emissions regulations are stricter. The announcement will also better position Ford against competitors such as Tesla, which has discussed coming out with an electric pickup truck.

Ford’s F-Series pickup trucks have been the best-selling vehicle in the U.S. for four decades, accounting for almost one-third of the company’s sales.

The confirmation of an electrified Ford F-Series follows the announcement of an alliance between Ford and Volkswagen to build and develop midsize pickup trucks and commercial vans. The two companies also announced that through the partnership they would explore and collaborate on electric and autonomous vehicles.

Shares of Ford were up 0.42 percent as of Thursday afternoon.