Ford Motor Company (NYSE:F) unveiled a Universal EV Platform for a midsize electric truck, highlighting simpler construction, streamlined manufacturing, and a structural battery for greater efficiency.
Goldman Sachs analyst Mark Delaney reiterated the Neutral rating on Ford Motor, with a price forecast of $11.
After attending Ford's Universal EV Platform event in Louisville, Delaney said the first application will be a midsize BEV truck priced around $30,000, with deliveries in 2027.
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The analyst added that the target is helped by a design with about 20% fewer parts and an assembly process roughly 15% faster.
He framed the reveal as a proof point for their "Platforms & Power" thesis. The platform is engineered for efficiency and uses roughly one-third less battery than first-generation EVs.
It's flexible for multiple future models, including EREVs. Delaney also said it will underpin Ford's CE1 electrical/electronic architecture, opening the door to higher-margin software and services.
Per Delaney, Ford's Universal EV Platform and new production system cut parts by 20% and are expected to lift throughput by 15%, and because parts and materials drive much of vehicle COGS, he views the parts reductions as the bigger lever for a ~$30,000 starting price.
The analyst stated that the platform trims components by 20% versus a typical vehicle, including 25% fewer fasteners and 40% fewer dock-to-dock workstations.
The midsize truck's wiring harness is more than 4,000 feet shorter and about 10 kilograms lighter than Ford's first-gen EV SUV.
On the battery side, the analyst said the vehicle will use a structural pack that forms the floor with prismatic cells from the Michigan plant, enabling roughly one-third fewer cells for similar range.
This results in an estimated cost reduction of a few thousand dollars, made possible by system-level power efficiency and full-vehicle CAD visibility for engineers.
Delaney said Ford is moving to an "assembly tree" that uses large castings.
The build splits into three parallel sub-assemblies before joining.
A single-piece aluminum unicasting removes roughly three-quarters of parts, two-thirds of welds, and half of fasteners.
The front and rear then mate to a structural battery module preassembled with seats, console, and carpeting. Parts arrive to operators in kits that include fasteners, scanners, and power tools.
He added that the approach echoes Tesla's 2023 "unboxed" concept by modularizing work to improve access and speed.
Overall, Ford is targeting about a 15% cut in assembly time.
Price Action: F shares are trading higher by 1.12% to $11.27 at last check Tuesday.
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