Ford Motor Company (NYSE: F) will unveil the latest version of its best selling F-150 pickup truck this week with features such as an onboard generator and a reclining seat.What Happened Ford's vice president of U.S. marketing, sales and service Mark LaNeve said that the newest F-150 would "set a new bar in terms of capability, torque, payload, towing that [Ford's] truck customers need," reported Fox Business LaNeve also announced a hybrid version with an onboard generator that can power a work site or a home "for a short period of time."The Ford executive confirmed the presence of a sleeper seat, saying, "Our truck customers work hard for a living. You've got to take a little siesta in the middle of the day … and you can lay flat."The automaker posted a teaser of its latest truck on Twitter on Tuesday ahead of the scheduled reveal Thursday.> Don't miss out – the reveal of the all-new FordF150 is just days away. Tap the to get a reminder to watch it on 6/25. pic.twitter.com/QEhuQuvj2x> > — Ford Trucks (@FordTrucks) June 23, 2020Why It Matters The F-150 has been the best-selling vehicle in the United States since 1981, and the company sold 900,000 F-series trucks in 2019.The truck to be released Thursday is the 14th generation of the F-150. The last major redesign was carried out in 2014 and further updated in 2017, notes Business Insider.Competitors of the truck include General Motors Company's (NYSE: GM) Chevy Silverado and GMC Sierra as well as Fiat Chrysler Automobiles NV's (NYSE: FCAU) RAM 1500. According to LaNeve, Ford will offer a battery-electric truck within two years.The F-150's popularity can be gauged by the fact that Trevor Milton, founder of Nikola Corporation (NASDAQ: NKLA), wants to snatch its crown and emerge as a frontrunner. Tesla Inc (NASDAQ: TSLA) is also jumping on the truck bandwagon and expects to launch its Cybertruck in 2021 or 2022. The automaker expects 650,000 preorders.Price Action On Tuesday, Ford shares closed 2.07% lower at $6.15.Image by FordSee more from Benzinga * Chinese Are Buying Fewer iPhones But Growth In App Store Signals Rebound For Apple: Report * Johnson & Johnson Damages Halved To .12B By Court In Missouri But Verdict Stands * Alphabet Employee Petition Calls For Google To Stop Selling Services To The Police(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
