Ford Motor Company (NYSE: F) has set an ambitious target of selling 100,000 units of its upcoming Fathom all-electric pickup truck in its first year. CEO Jim Farley confirmed the starting price of $28,350 for the vehicle, which is scheduled for launch in 2027. Pre-orders are expected to open in early next year.

This sales goal represents a significant shift for Ford's electric vehicle strategy following the halt of F-150 Lightning production due to weak sales. The F-150 Lightning sold 27,307 units in the United States in 2025, making it the best-selling EV pickup at that time. By comparison, Tesla Inc. (NASDAQ: TSLA) estimated Cybertruck sales of 20,237 units in the U.S. last year.

Sales Targets and Market Context

The goal of 100,000 Fathom units would place the vehicle among the top-selling EVs in the U.S. annually. Currently, only the Tesla Model Y and Model 3 have hit the 100,000-unit mark annually in the country. Ford sold a total of 84,113 electric vehicles in the United States in 2025.

While the 100,000-unit target is lower than Elon Musk's original goal of producing 250,000 Cybertrucks annually, it marks a major milestone for Ford. The company is leveraging its universal EV platform to improve production and profitability for its EV unit.

Pricing and Competition

The Fathom's starting price of $28,350 positions it aggressively against competitors. The base model includes a standard-range battery, with destination and delivery charges excluded. This price point is significantly below the Tesla Cybertruck base trim, recently increased to $74,990 in the U.S. market. It is also cheaper than the Chevrolet Silverado at $55,985 and the Rivian R1T at $79,900.

One competitor offering a lower price is Slate Auto, an EV startup backed by Jeff Bezos. The Slate Tuck starts at $24,950, with models expected to ship in late 2026. However, the Slate Truck comes with limited features, requiring owners to customize and add features for additional cost.

Testing and Development

Farley shared images of a camouflaged Fathom unit undergoing hot weather testing in Las Vegas. Earlier sightings showed the prototype testing in Arizona. A QR code on the camouflage directs users to the vehicle's landing page. The vehicle is built on Ford's universal EV platform.

What the Numbers Show

The pricing strategy highlights a clear divergence from Ford's previous EV approach. The F-150 Lightning base Pro model had a retail price of $49,875, nearly 76% higher than the Fathom's starting price. This substantial reduction suggests Ford is prioritizing volume and affordability over premium positioning for its next-generation EV pickup.

Ford Motor Company named Dave Carroll president of Ford Energy, effective Aug. 31. Carroll succeeds Lisa Drake, who will retire at year-end after a 32-year career spanning engineering, supply chain and EV industrialization.

Carroll joins from ENGIE North America, where he served as chief executive officer and chief renewables officer. Over six years, he grew the company's renewables operating assets by more than 12 times. He recently chaired the American Clean Power Association's board of directors and previously held senior roles at EDF Renewables and Avangrid Renewables.

Operational Scope

Carroll will oversee Ford Energy’s end-to-end operations, including:

• Battery cell manufacturing
• System assembly
• Commercial strategy and sales

He reports to John Lawler, vice chair of Ford Motor Company.

Transition Plan

Drake remains with the company through Dec. 31 to partner with Carroll on a structured transition. This covers manufacturing operations, customer commitments and supplier partnerships across Ford Energy.