Ford has not yet placed a time frame on going all-electric in the U.S. because the environment is still undecided, Galhotra said. In Europe, where there are demands by governments to ban gasoline cars, Ford has promised to sell nothing but EVs by 2030, if not sooner.
"The two markets are in a very different place," Galhotra said. "As that market was maturing and moving in Europe, it was clear at what point we'd be all-electric. I suspect the same thing is happening here; we're just not at that point."
Ford's top brass hopes to have a clearer sense once the Lightning goes on sale next spring. GM says it aims to have a zero-emission light-duty lineup by 2035, while admitting that the pace of consumer adoption could change that.
The F-150 Lightning starts at $39,974 before an undisclosed shipping fee — far less than many on Wall Street had been expecting — and will come in four trims.
After the base model aimed at commercial fleets, the retail-oriented XLT starts at $52,974, and the lineup will top out at around $90,000.
The truck features standard four-wheel drive; the F-150's first independent rear suspension; an improved on-board generator that can power a house or worksite for three straight days; and the industry's largest front trunk, offering four power outlets and space for two sets of golf clubs.
Ford said the Lightning can outrun an F-150 Raptor, with a targeted 0-to-60-mph time in the mid-four-second range. Its dual electric motors are expected to produce 563 hp and 775 pound-feet of torque, making it more powerful than any F-150 before it, including the V-8 variants that previously bore the Lightning badge.
The standard-range battery is expected to get 230 miles to a charge, and an extended-range option promises 300 miles. The pickup also can tow up to 10,000 pounds and haul up to 2,000 pounds.
"We should all watch very carefully how this does in the market," Farley told reporters last week. "This will be a big test for a majority of customers because it's such a big segment and the price is so approachable. I think it will kind of show where EV adoption really is."