It was a scene no car company wants to witness. A vehicle that represents its future more than any other, engulfed by fire, posted on an online news site. A video obtained by CNBC under Michigan’s Freedom of Information Act from the Dearborn Police Department showed a Ford F-150 Lightning, Ford’s flagship electric vehicle (EV), on fire in a parking lot. It was a raging fire that also engulfed two other nearby vehicles. One comment on the video read, “There is a reason why Ford calls it ‘Lightning.’” (These are the most dangerous cars on the road today.)
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Ford blamed the fire on the battery cell production supplier SK On. It would seem tests of components of the Lightning had been inadequate. Ford has admitted its quality problems are a major issue and may take two years to fix. In the meantime, consumers may well question the safety of the vehicle. Ford Executive Chair Bill Ford said the Lightning was the most important product launch during his time as a Ford employee. He ought to regret that comment.
Unfortunately, the video of the fire happened the same day Ford announced it would sell the Lightning in what it called Europe’s EV capital. Ford management commented: “The electric version of America’s best-selling pickup is going to Norway in response to overwhelming public demand.” Bad luck.
Ford has bungled the Lightning launch several times. The battery problem caused Ford to shut down the Lightning assembly line for over a month. Ford admitted to the trouble.
Ford also has increased the price of the Lightning four times in 19 months. According to car evaluation site Kelley Blue Book: “The most costly is now comically close to $100,000 as if Ford’s accountants can’t bring themselves to admit it’s a 6-figure price now.” The price of the entry-level Lightning is now $60,000. That prices it out of the market for many traditional pickup buyers.
24/7 Wall St.Ford might have benefited from being early to market with the Lighting. Tesla has not launched its electric pickup. Neither have rivals Chevy or Ram. Ford’s early mover edge may disappear if each of these can avoid an engine fire problem.
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