Exactly, and it replaced the 460 cubic inch V8 that I believe was used on E-Series Class Cs through 1996. And before that Ford had a SuperDuty truck engine that was up to 534 cubic inches (8.75 liters) in size.
The upcoming truck V8 in the 6.9 ~ 7.0 liter range isn't really that large historically. By comparison Ford 427, 428, and 429 engines used in classic Mustangs and other cars were all in that same 7-liter range.
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