Ford plans to unveil an all-electric version of its Ford Transit van in November, the company said on Wednesday as part of its broader earnings report for the third quarter. The reveal shows an electric van for all of the company's globally addressable markets.
The company has been talking about making an electric transit van for more than a year. Ford announced plans in April 2019 to sell an all-electric Transit for the European market by 2021. This spring, Ford announced that it would also produce and sell a fully electric version of the van for the North American market starting in 2022, Model Jahr.
The electric transit van is part of Ford's more than $ 11.5 billion investment in electrification through 2022, and specifically a strategy for commercial customers.
The decision to include commercial vans in its EV strategy was related to sales in North America and the company's prospects for future growth. The Transit Van and the Ford F-150 are the two main ones The largest volume of commercial vehicles in our industry, CEO Jim Farley said during a earnings call on Wednesday with analysts.
"We have 'work' at Ford and these electric vehicles will be real work vehicles, extremely powerful and with unique digital services and wireless capabilities to improve the productivity and availability of our key commercial customers," he said. "W.We believe the addressable market for an all-electric delivery truck and pickup truck – the two largest addressable profit pools and commercial ones – will be massive, and we're taking this opportunity right away. "
The announcement was in the company's third quarter earnings, which drove Wall Street expectations. Ford on Wednesday reported net profits of $ 2.4 billion on sales of $ 37.5 billion. Ford expects full-year 2020 adjusted earnings before interest and taxes to be positive, reversing the previously provided weaker outlook.