That is correct, they have a chip. Apparently Ford made some changes to the 2011 models that make it even more sophisticated. I bought chipped key blanks for my '07 on eBay for a tenth of what the dealer wanted to charge, but as of now the blank keys for the 2011 models aren't available. My remote/key is $250 from the dealer, or I can get a chipped key without remote for about half that. Fortunately I have the keypad entry system on my truck, although if I lose the key I'm still screwed. I have always had an extra key hidden on the truck somewhere, so I'm watching to see when the keys become available to the general locksmith trade.