An updated hybrid version of the Ford F-150 pickup truck will debut at this year’s upcoming Detroit auto show.

Not one to rest on its laurels when it comes to the corporate darling, Ford has a refreshed F-150 fullsize pickup truck coming to bridge the gap until the next-generation truck due in 2026. The current generation debuted for the 2021 model year and the update, which includes a new hybrid, will be unveiled in September at the Detroit auto show, Ford CEO Jim Farley told analysts on a call to report second-quarter earnings.

Ford currently sells a Ford Maverick hybrid pickup and a Ford F-150 PowerBoost hybrid pickup. Organizers of the Detroit auto show have said there will be six new vehicles total from Ford, General Motors, and Stellantis at this year’s show, with two debuts from each automaker. The Detroit show resumed last year after a hiatus of just over two years. It returned as a far smaller show than it was during its heydays when it was held in January and opened the international auto show season.

Ford is also developing a second generation of the F-150 Lightning electric pickup truck and has invested in new assembly and battery plants to handle future demand at the Blue Oval City complex in Stanton, Tennessee.

Ford Second-Quarter Earnings

The F-150 is the top-selling vehicle in the U.S. and each sale nets a nice profit. It is this truck, and the rest of the lineup of vehicles still powered by internal combustion engines, that fueled strong second-quarter earnings this period. Net income nearly tripled to $1.9 billion on $45 billion in revenue, resulting in a pretax profit of $3.8 billion.

The EV side of the house is not faring as well. Farley told analysts its EV business could lose $4.5 billion this year, up from past forecasts of $3 billion, in part because of a price war initiated by Tesla. Ford now expects to deliver 600,000 electric vehicles a year by the end of 2024—a downplay of original plans to ramp to that level by the end of this year.

On the strength of overall vehicle demand, Ford raised its profit outlook for the year to $11 billion to $12 billion in pretax profits, up from $9 billion to $11 billion, even as the company braces for a potential strike with UAW contracts set to expire Sept. 14. Ford is also bargaining with Unifor for a new labor agreement in Canada.

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