The V8 engine option is downsized from 6.2 litres to 5.0 litres, and there's a new turbo 2.7 litre Ecoboost V6 at the lower end of the range.
A 3.5 naturally-aspirated engine becomes the new entry-level motor and the 3.5 litre turbocharged Ecoboost V6 carries over, but it's the much greater use of aluminium in the new F-150's construction that's the highlight.
With aluminium now being employed in the front bodywork, cab structure, bed and tailgate, Ford says the new F-150 is roughly 320kg lighter than the outgoing model - a huge weight saving, even for a large pickup truck.
The chassis itself remains a steel ladder frame, albeit of a new design.
The weight saving enables the new F-150 to reduce its fuel consumption without sacrificing performance. It's helped by other fuel-saving tech including electric power steering and six-speed automatic gearboxes across the range, as well as auto start-stop fo the 2.7 V6 models.
Though fuel economy numbers have yet to be released, the turbo 2.7 V6 is expected to be the fuel economy leader - while still retaining a healthy towing capacity.
The new F-150 will also include a wide range of high-tech features too, including an 8-inch touchscreen infotainment display, an around-view camera, built-in loading ramps, seatbelt airbags, active cruise control and lane keep assist.
Want one? Sadly the F-150 remains a left hand drive product, with Ford indicating it has no plans to bring it to market in Australia.