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Ford To Make All-electric Version Of F-150 Pickup Truck

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Ford Motor Co. (F) plans to launch an all-electric plugin version of its popular F-150 pickup truck.

The announcement was made by Jim Farley, Ford's president of Global Markets, during a presentation at the Deutsche Bank Global Automotive Conference in Detroit.

"And here's what's going to happen next to future proof that global juggernaut of commercial vehicles. We're going to be electrifying the F-Series, both battery electric and hybrid, and we're doing the same for Transit," Farley said.

Ford's announcement comes as the auto industry transitions away from fossil fuel-powered transportation to electric vehicles and as rivals have already announced plans to launch electric trucks.

Luxury electric car maker Tesla has said it plans to launch an electric pickup truck, while Michigan-based startup Rivian Automotive unveiled its R1T all-electric pickup truck in November 2018.

The F-150 has been the top selling U.S. vehicle by any manufacturer for more than 40 years. Ford sold more than a million units of the F-series trucks last year, with the F-150 accounting for nearly a third of Ford's sales.

The company has previously said it would also make a hybrid version of the F-150.

Ford announced it is allocating capital to high-growth and high-margin product segments as well as smart vehicles and services. The automaker's strategy centers on high-growth product segments, electrified propulsion, autonomous vehicles, mobility services and operational fitness.

In North America, Ford will refresh 75 percent of its lineup in the next 24 months, fortifying its truck franchise and expanding the range of SUVs.

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