Ford is accelerating plans for a new, small gas-powered pickup truck priced below $40,000, positioning it beneath the Maverick in its lineup. The move, confirmed by CFO Sherry House, directly targets the nascent small-truck market, aiming to outpace startups like Slate before they gain traction.

This pivot marks a decisive shift from Ford's previous all-electric vehicle push, driven by changing market demand and the impact of recent Trump Administration automotive tariffs. To adapt, Ford is retooling its Tennessee assembly plant for increased internal combustion production, as CEO Jim Farley stated, to build this new "affordable" combustion truck variant.

Simultaneously, Ford is proceeding with a separate midsize electric pickup on its new Universal EV platform, learning from the F-150 Lightning's struggles. The company believes a smaller, Ranger-sized EV is a more viable product. This dual-path strategy of gas and electric small trucks is designed to recapture budget-conscious buyers.

The sub-$40,000 gas model, if produced, would immediately compete on price with existing Maverick trims while undercutting upcoming EV rivals. Ford's bet is that a low-cost, gas-powered work truck will secure volume and market share in a segment it helped create but now risks losing to agile newcomers.