Ford Drops Fathom EV — and It Undercuts Tesla’s Cybertruck by 2.5x

Ford Motor Company (NYSE: F ) has had mixed success with its electric vehicles in recent years with the F-150 Lightning pickup truck becoming the bestselling EV truck, but the company is struggling with profits for its electric vehicle segment.

A sub-$30,000 electric pickup truck has been unveiled by the company in a move that could change everything.

Ford Unveils Fathom EV Pickup Truck Ford announced last year that it would stop selling the F-150 Lightning and several EV models to put a renewed focus on profitability for the segment and creating vehicles under the $30,000 price point.

This week, Ford officially unveiled the Fathom electric pickup truck. "We named it Fathom because real depth comes from deeply understanding how you live.

Inspired by the classic measure of open arms, Fathom welcomes you in with an expansive interior and technology that adapts on the fly," Ford said of the name.

The vehicle is said to have more passenger volume than the Toyota RAV4 and seats five adults comfortably.

The Fathom has bidirectional power capabilities and BlueCruise capabilities.

Fathom features a navigation system powered by Apple Maps, a unit of Apple Inc (NASDAQ: AAPL ), and is compatible with both Apple’s CarPlay and Android Auto from Alphabet. "It’s not like you’ve been avoiding an electric vehicle.

You’ve just been waiting for the right one," Ford adds.

The vehicle is listed with a starting retail price of $28,350, with preorders expected in early 2027.

Read Also: Ford CEO Draws Line In Sand: Keep Chinese EVs Out Of US — 'Should Not Let Them Into Our Country' Ford Takes on Competition With Price For Ford, the new vehicle is a big bet that it can win over consumers that have driven other electric vehicle brands and win over consumer still driving gas-powered vehicles.

The key battle is also on profitability with the new starting price significantly lower than past Ford EVs, but done so from the bottom up, with a focus on margins.

Ford’s second quarter financial results, which saw lower electric vehicle sales, also saw the company raise its EBIT full-year guidance and see strong financial metrics.

Ford sold 27,307 F-150 Lightning EVs in 2025, outselling the Cybertruck from Tesla Inc (NASDAQ: TSLA ).

That year saw Tesla sell 20,237 Cybertrucks, down 48% from the 39,965 sold in 2024.

Once viewed as a vehicle that could sell hundreds of thousands of units annually by Tesla CEO Elon Musk, the Cybertruck has not had the demand anticipated.

With a starting price of $69,990 for the Cybertruck, the Fathom is now 2.47x cheaper at its starting price.

The battle between Ford and Tesla could intensify with consumers who are focused on price quickly shifting to Ford if looking for a pickup truck.

The Cybertruck sales going forward could be limited for the Tesla fans and past customers and those fine with paying for extra features.

The Fathom also comes in cheaper than several other top selling electric pickup truck models currently on the market, including the Rivian Automotive (NASDAQ: RIVN ) R1T which starts at $79,900 and the Chevrolet Silverado EV from General Motors (NYSE: GM ) that starts at $55,985.

With a price point of $28,350, the Fathom also comes in around 1.75x cheaper than the F-150 Lightning from Ford, which was once the bestselling EV pickup truck.

One company that will beat Ford on price is Slate Auto, an EV startup backed by Jeff Bezos.

The Slate Tuck comes with a starting price of $24,950 with models expected to ship in late 2026.

The catch with the Slate Truck is that it comes with limited features and owners are able to customize and add additional features, adding to the starting price.

Ford Stock Price Action Ford stock is up 0.2% to $13.82 on Friday versus a 52-week trading range of $11.06 to $17.78.

Ford stock is up 3.6% year-to-date in 2026.

Read Also: Ford's EV Sales Plunge 41% in Q2 As Legacy US Automakers Struggle With Weak Demand Image via Shutterstock