The auto giant will introduce a version of its F-150 full size pickup powered by liquefied natural gas in the 2014 model year. The pickup will be able to use either compressed national gas or liquefied petroleum gas, CNNMoney notes.
While natural gas is currently priced well below comparable amounts of gasoline, customers will have to pay a $10,000 premium on models with the natural gas option. Ford says buyers will be able to recoup that expense through fuel cost savings within three years.
A 2013 F-150 gets roughly 19 miles per gallon of gasoline. But the 2014 natural gas version of the truck will travel as far as 750 miles on a full tank of compressed natural gas or liquefied petroleum gas.
Ford already offers a compressed natural gas option on its current F-350 pickups.
Earlier this month, Ford cut base price of its Focus EV electric vehicle by $4,000, dropping the price to $35,200.
Shares of Ford rose modestly in Wednesday morning trading.