$Ford Motor (F.US)$Ford doubles efforts to develop hybrid pi...

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FPlans to double the production of the hybrid F-150 pickup by 2024, accelerating the automaker's transition to the gas-electric powertrain to hedge the concerns that U.S. truck buyers are reluctant to adopt all-electric vehicles.

Ford said the company is preparing to equip the oil-electric power system for 20% of the best-selling models in the US market by 2024. The company said that in the 2024 model year, hybrid systems will be priced the same as trucks equipped with a six-cylinder “EcoBoost” internal combustion power system.

“Andrew Frick, Vice President of Ford's Blue Division, told Reuters: “We're going to add some upside to our production plans. Flick said hybrid systems are currently available as a $3300 option on some models of F-150, and demand has risen to 10% of the total F-150 sales.

If sales reach Ford's new expectations, the hybrid F-150 will become one of the three best-selling oil and electric vehicles in the US, competing with Toyota's RAV 4 compact SUV.

Toyota also has a hybrid system on its Tundra large pickup. According to car manufacturer sales data, about 24% of the 59,735 Tundras sold in the United States as of June 30 have adopted a hybrid system. Ford sold about six times the number of F-series trucks in the same period.

Prior to the opening of the Detroit Motor Show to the public this Saturday, Ford announced the redesigned 2024 F-150 Series at an event on Tuesday evening.

Ford will (link), expanding the use of hybrid technology, marking a huge strategic difference between Ford and rival General Motors, which is implementing an all-electric strategy for its future American car lineup, including Chevrolet and GMC pickup models.

Ford and Toyota are leading the rebound of U.S. hybrid powertrain.

Sales of electric vehicles in the US are accelerating, but slower than industry executives expected, as many consumers are prohibitive about high EV prices and worry about mileage and charging issues. For pickup users, towing trailers significantly reduce electric truck mileage.

Standard & P's global mobile company expects hybrid sales to grow more than twice in the next five years, accounting for 24% of US new car sales by 2028.

If demand for electric vehicles such as the F-150 Lightning pickup is lower than expected, the high volume sales of hybrid trucks will help Ford comply with stricter U.S. climate emission regulations.

“Flick said, “Every hybrid we sell is more beneficial than traditional internal combustion engines.