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Ford Motor Company (NYSE:F) has announced a new Bronco SUV member, the Raptor, to be released later this year and starting at $70,000. The automotive giant is also aiming at complying with 100,000 current model orders including the F-150 pickup truck.
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Ford's New Release
As reported by CNN Business , Ford has set sights on its Jeep Wrangler rival and announced the Bronco Raptor. The off-road vehicle —to be released later this year— sports a taller suspension, bigger tires, and more power than the basic Bronco model, which allows it to swift through sand dunes at 'highway speeds,' according to the company itself.
The turbocharged, 3-liter, V6 engine delivers 400 horsepower coupled with a 10-speed automatic transmission exclusively —equipped with paddles on the wheel for gear shifting.
In a release, CEO Jim Farley said“We poured all of our passion and all of our Bronco and Raptor know-how into creating this absolute desert-racing beast.”
CNBC reports that Ford“uses the Raptor name for performance, high-speed off-road variations of its popular F-150 pickup in North America and a Ranger midsize pickup in global markets. The name has a fan following, which Ford will try and replicate with Bronco owners.”
During a media event, Derek Bier, Ford performance vehicle engineering manager, said“This is truly not only a Bronco, but it has earned the Raptor badge,” while Paul Wraith, Bronco design chief sanctioned,“It's a very, very high-performance vehicle. This is a hungry beast. It needs cooling.”
By 2023, Ford is said to be spending more on electric vehicles than on those equipped with combustion engines, while this year the company reached a record market capitalization of $100 billion .
In an attempt to increase profit and lure consumers to their brands —before switching to fully electric lineups— car manufacturers have been adding performance models to their catalogs.
General Motors Company (NYSE:GM) just recently revealed the Cadillac Escalade, a high-powered gasoline model as the Cadillac brand is expected to lead the company's transition toward electric vehicles.
Ford is part of the Entrepreneur Index , which tracks 60 of the largest publicly traded companies managed by their founders or their founders' families.
Updated on Jan 24, 2022, 11:02 am
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